December inflation records 54.1%

The rate of inflation for December 2022 was 54.1 per cent, the Ghana Statistical Service (GSS) has announced on Wednesday January 11.

This is up from the 40.4 per cent recorded in November same year.

The month-on-month inflation rate was at 3.8% in December 2022.

According to the figures, five divisions recorded inflation rates higher than the national average.

Housing, Water, Electricity, Gas and Other Fuels (82.34%); Furnishings, Household Equipment (71.52%); Transport (71.42%); Personal Care, Social Protection and Miscellaneous Goods and Services (60.94%) and Food and Non-Alcoholic Beverages (59.71%).

Whilst Food inflation went up by 4.4% in December 2022, Non-Food Inflation went up to 49.9% in December 2022, from 46.5% in November 2022.

Inflation for locally produced items was 51.1% and inflation for imported items was 61.9%.

Eight sub-classes registered inflation rates higher then the food inflation average. They included Water (94.2%), Fruit and Vegetable Juices (84.6%), Milk, Other Diary Products and Eggs (82.2%) and Tea, Mate and Other Plant Products for Infusion (77.7%).

Source:3news.com