Ghana’s inflation witnessed a marginal uptick from 23.2 to 23.5 percent for January 2024.
This marks a reversal of the consecutive declines recorded between July and December 2023.
This slight acceleration in consumer prices is attributable to the increase in non-food inflation drivers, mainly accommodation, electricity and clothing.
![](https://i0.wp.com/citinewsroom.com/wp-content/uploads/2024/02/CPI-2.png?w=1110&ssl=1)
However, food inflation continued to ease during the period under review.
This unexpected increase comes barely a month after the Central Bank reduced its monetary policy stance by one hundred basis points on the back of the fall in inflation figures.
![](https://i0.wp.com/citinewsroom.com/wp-content/uploads/2024/02/CPI-4.png?w=1110&ssl=1)
The latest data announced by the Ghana Statistical Service means that, general price level for January 2024 was 23.5 percent higher than January 2023.
It also suggests, month-on-month inflation between December 2023 and January 2024 was 2.0 percent.
![](https://i0.wp.com/citinewsroom.com/wp-content/uploads/2024/02/CPI-3.png?w=1110&ssl=1)
On a regional basis, the Eastern Region recorded the highest rate of inflation at 37.1%, driven by food prices.
The Greater Accra Region, on the other hand, posted the lowest rate of inflation at 18%.
![](https://i0.wp.com/citinewsroom.com/wp-content/uploads/2024/02/CPI-JANUARY.png?w=1110&ssl=1)
Source: citibusinessnews.com