Ghana’s February inflation came down to 52.8 percent

16th March 2023

Ghana recorded an inflation rate of 52.8 percent in February, the second straight drop in the rate since May 2021 after a dip in January.

February’s inflation rate was 0.8 percentage points lower than the 53.6 percent recorded a month earlier, said the Ghana Statistical Service Wednesday.

“We have sustained the reversal seen in the inflation rate in January since the upward push of the rate from May 2021 to December last year,” said Samuel Annim, the government statistician, during a regular monthly briefing.

“We saw non-food inflation remaining flat at 47.9 percent in February just as it was in January, but food inflation dipped to 59.1 percent compared with 61 percent in January. The 1.9 percentage point dip in food inflation led to the drop in the overall inflation rate,” he said.

Meanwhile, inflation for locally produced and imported items stood at 49 percent and 62.3 percent, respectively.

Ghana has experienced its worst period of high inflation rate in recent years since 2021 amid exchange rate volatility and a high fiscal deficit. Enditem

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