Inflation drops sharply to 45% in March

Source the Ghana Report

Inflation for March has dropped significantly to 45% from the previous 52.8% recorded in February 2023.

This is about a 7.8% decline influenced by some deflation recorded in the Food and non-alcoholic beverages group.

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

This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, April 12.

Per the data, food inflation also stood at 50.8% and Non- food inflation at 40.6%.

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

Only a 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.

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