Inflation for January drops to 7.8%



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Year-on-year inflation decreased by 0.1% to 7.8% in January 2020.

However, the monthly change between January 2020 and December 2019 was 1.4%, the highest since the rebasing in August 2019.

According to figures from the Ghana Statistical Service, the food inflation rate was 7.8% while the non-food inflation rate was 7.9%.

Inflation was high for alcoholic beverages, tobacco and narcotics (11.1%); transport (10.5%) as well as housing, water, electricity and gas Divisions (9.0%).

The differential inflation between locally-produced items (8.7%) and imported items (5.8%) was 2.9 percentage points.

The figures further revealed that local inflation has been growing faster than imported inflation for the past three months.

This was announced by the government statistician Professor Samuel Anim.

Ghana | Atinkaonline.com | Maame Nyarkoa Obeng