December Inflation Increases Again To 54.1% To End 2022

Ghana’s monthly inflation rate continued its upward trajectory in December 2022 ending the year at 54.1%.

The December figure represents an increase of 2.8 percentage points over the previous month (November 2022) which was pegged at 50.3%.

This new figure on year-on-year basis means that the economy recorded a  54.1% increase in the prices of goods and services higher than what was recorded in December 2021.

Addressing the media on Wednesday, government statistician Professor Samuel Kobina Annim explained that food inflation was the highest inflation rate for December 2022 recording 59.7%, soaring past the 55.3% recorded in November 2022.

Locally produced items also recorded an inflation rate of 51.1 & which was less than imported items by 10.8 percentage points which recorded a rate of 61.9%.

Professor Samuel Kobina Annim also disclosed that on a year-on-year basis, water went up by over 94%, followed by fruit and vegetable juices peaked at 84.6%.

The Greater Accra Region was the region with the highest inflation of 66.7% with the Bono region being the region with the lowest inflation of 35.6%.