Inflation Shoots Up To 54.1 percent in December 2022


Ghana’s inflation accelerated to 54.1 per cent in December up from 50.3 per cent in November 2022 as food costs surge, the Ghana Statistical Service said on Wednesday.

The month-on-month inflation rate between November and December 2022 was 3.8 per cent.

Professor Samuel Kobina Annim, the Government Statistician, said this meant that in the month of December 2022 the general price level was 54.1 per cent higher than December 2021.

Food inflation rose to 59.7 per cent from previous month’s food inflation of 55.3 per cent with the month-on-month food inflation at 4.1 per cent.

The non-food inflation rose to 49.9 per cent from 46.5 per cent in November. The month-on-month non-food inflation was 3.6 per cent.

The Government Statistician said inflation for locally produced items was 51.1 per cent while inflation for imported items was 61.9 per cent.

The Greater Accra region overtook the Eastern region to record the highest regional inflation rate of 66.7 per cent, meanwhile the Volta Region maintained the records of having the lowest regional inflation rate of 35.6 per cent.

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