January inflation goes up marginally

 The country’s year-on-year inflation rose marginally to 23.5 per cent in January this year to 23.2 per cent in December 2023, the Ghana Statis­tical Service (GSS) has announced.

The January 2024 inflation rate represents a 0.3-percetage point increase relative to the rate of 23.2 per cent recorded in December 2023.

The month-on-month inflation between December 2023 and Janu­ary 2024 stood at two per cent.

Professor Samuel K. Annim, Government Statistician, who addressed a news conference in Accra on Wednesday, said non-food inflation drove the January 2024 inflation rate.

Non-food inflation, he said, rose to 20.5 per cent in January 2024 from 18.7 per cent in De­cember last year, representing an increase of 2.4 per cent.

Clothing (23.9 per cent), alco­holic beverages (39.7 per cent), electricity, gas and other fuels (35.9 per cent), accommodation services (37.9 per cent), and personal cares (32.8 per cent) drove the non-food inflation.

Prof. Annim said insurance and

financial services (8.6 per cent), information and communication (13.6 per cent), transport (5.6 per cent), housing, water, electricity gas and other fuels (22.6 per cent) recorded inflation rates below the national average of 23.5 per cent.

Prof.Annim said food inflation on the other hand fell to 27.1 per cent in January from 28.7 per cent in December last year, representing 1.6 per cent decrease.

He said water (8.4 per cent) and fruits and nuts (23.3 per cent) recorded inflation below the na­tional average of 23.5 per cent.

The Government Statistician said inflation for locally produced items fell from 23.8 per cent in December 2023 to 24.2 per cent in January and inflation for imported items rose marginally to 22.0 per cent in January from 21.9 per cent in December.

 BY KINGSLEY ASARE

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