March 2023 inflation falls sharply to 45%

April 12, 2023 / Comments (0)

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Inflation for March 2023 has fall sharply to 45% . This was influenced by some deflation recorded by the Food and non-alcoholic beverages group.

The drop is significant due to the level of increase recorded by inflation some few months ago, after it declined to 52.8 % in February 2023.

 According to Government Statistician Prof. Samuel Kobina Annim, the fall shows the ongoing downward trend of inflation.

“Only few sub groups recorded inflation during the period. The Western North region recorded the highest rate of inflation whilst the Volta region was the least,” he said.

Prof. Annim explained that the decline in the rate shows that general prices increased but at a slow rate compared to the same period last year.

“One must take note that this is a slowdown in rate of inflation which means that inflation went up by 45 percent”, he said.

Answering the question on the projected trend, Professor Annim hinted that the GSS will not make any projections to the rate but said that the trend may be sustained.

He is confident that the current performance of the local currency, could have an indirect role in the declining rate of inflation.


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