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Inflation rate for January 2024 increases to 23.5%

Africa food market/inflation

The year-on-year inflation rate for January 2024 has increased marginally from 23.2% to 23.5%, the Ghana Statistical Service has announced.

This means that in the month of January 2024 the general price level was 23.5% higher than January 2023.

The slight acceleration in consumer prices is attributable to the increase in non-food inflation drivers, mainly accommodation, electricity and clothing, the Ghana Statistical Service (GSS) has said.

Addressing the media, the Government Statistician, Professor Samuel Kobina Annim said food inflation dropped to 27.1% from 28.7% in December, while non-food price growth was 20.5% compared with 18.7%.

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