GSS Reports Ghana’s January 2024 Inflation Rises to 23.5%: Prices Up 2.0% Month-on-Month

In January 2024, Ghana’s inflation rate increased to 23.5% compared to 23.2% in December 2023 as stated by the Ghana Statistical Service (GSS) on Wednesday, February 14, 2024.

This means that prices were 23.5% higher in January 2024 than they were in January 2023. Month-on-month, prices rose by 2.0% from December 2023 to January 2024.

At a media briefing, Professor Samuel Annim, the Government Statistician, said the Consumer Price Index (CPI) for January 2024 was 204.5, up from 165.6 in January 2023.

Non-food items also experienced a rise in prices, contributing 20.5% to inflation, with a month-on-month increase of 2.4%.

Imported items experienced an inflation rate of 21.9%, while locally produced items had a slightly higher rate of 23.8%.

Regionally, the Eastern Region had the highest inflation rate at 37.1%, while the Greater Accra Region had the lowest at 14.4%.