Inflation drops from 26.4% to 23.2% in December

The Ghana Statistical Service has released the latest inflation figures for December 2023.

For the fifth consecutive month, inflation has dropped, recording a rate of 23.2% for December 2023.

According to the Consumer Price Index (CPI) data released on Wednesday, January 10, food inflation stood at 28.7 percent and non-food inflation recorded 18.7 percent.

Inflation for locally produced items stood at 23.8 percent while inflation for imported items stood at 21.9 percent.

On the regional front, the Eastern region recorded the highest food inflation rate of 51.3 percent while the Upper East recorded the lowest food inflation rate of 18.8 percent.

Relatedly, the Paramount Chief of Asogli State, Togbe Afede XIV, has blamed the Bank of Ghana for the country’s current woes.

In an op-ed titled 'Bank of Ghana has failed us,' Togbe Afede XIV expressed his dissatisfaction with the economic and fiscal policies of the country, attributing them to poor governance.

In his critique, Togbe Afede XIV argued that Ghana has fallen short of the aspirations set by the country's founding fathers. He lamented the failure to address the issues at hand, emphasizing that instead of instilling hope, the leadership has generated a frightening sense of helplessness among the populace, especially the youth.

Drawing a parallel between the government seeking an extended credit facility from the International Monetary Fund (IMF) and a company filing for bankruptcy, Togbe Afede XIV highlighted the severity of Ghana's economic challenges.

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