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Inflation Drops To 7.8%

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% whilst 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.

More soon.