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Inflation drops again, hits 52.8% in February 2023

This is the second consecutive decline in the national inflation rate after a marginal drop in January's rate

The rate of inflation for February 2023 declined to 52.8%, the Ghana Statistical Service (GSS) has said.

This indicates a 0.8 percentage point lower rate of inflation compared to January 2023.

This is the second consecutive decline in the national inflation rate after a marginal drop in January’s rate.

Speaking at a press conference on Wednesday (15 March), the Government Statistician, Prof Samuel Kobina Annim said, “from this prospective we have sustained the reversal in the upward trends in inflation that we recorded in greater part of 2021 and 2022.”

In the regional inflation figures, for the first time, Western North recorded the highest inflation rate (66.6%) as well as the highest in food inflation (77.3%), with the Volta Region recording the least rate of inflation (35.4%).

Food inflation was 59.1%. as compared with January’s rate of 61%, Non-food inflation remained unchanged at 47.9%

Inflation on prices of locally produced items also dropped to 49.0% compared with 50% in January 2023 and for imported items it was 62.3% compared with 62.5% in January.

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