Inflation fell marginally to 53.6% in January 2023, from 54.1% recorded in December 2023, latest data from the Ghana Statistical Service has revealed.
This is the first time in 19 months that inflation has dropped.
According to the figures, the rising food prices pushed the Consumer Price Index (CPI) up.
However, transport inflation fell for the first time in several months due to the reduction in fuel prices during the period.
Prices of non-food items also declined during the period.
The high inflation will keep lending rates still high at an average of about 35%. This means the cost of borrowing will still remain elevated.
With regard to the regions, Eastern region recorded the highest year-on-year inflation of 66.2%.
Greater Accra followed suit with an inflation of 65%.
Volta region however recorded the lowever inflation of 34.7%.
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