Consumer inflation has further declined to 52.8 percent in February 2023 from 53.6 percent in the previous month, sustaining the reversal of the price pressures which began in January 2023.
Inflation peaked around 54.1 percent in December, 2022, accelerating for 19 consecutive months, according to the data from the Ghana Statistical Service (GSS).
“We have sustained the reversal that started last month from the upward increases in inflation. It will be recalled that in January 2023, we had a reversal in the upward trend from 54.1 percent in December 2022 to 53.6 percent for January 2023. So we have sustained the reversal in the upward trend in inflation rate that we recorded in greater part of 2021 and 2022,” the Government Statistician, Prof. Samuel Kobina Annim said.
Food inflation declined to 59.1 percent from 61 percent in January 2023. While the non-food inflation remained same at 47.9 percent for February, 2023.