January Inflation drops to 9.9%

Inflation for the month of January 2021 has dropped to 9.9%, the Ghana Statistical Service has disclosed.

The GSS also said national month-on-month inflation from December 2020 to January 2021 was 0.9%.

In its latest Consumer Price Index, the Government Statistician said January 2021 recorded the same year-on-year inflation as was recorded on average in 2020 which is 9.9%.

Overall, the month-on-month inflation which is 0.9% was just above the 2020 average of 0.8% but was considerably lower in Greater Accra with 0.2%.

Food inflation of 12.8% came down compared to last month’s record of 14.1% but is still slightly above the average over the last 12 months which recorded 12.3%, with this rate, Food contributed 57.0% to the total inflation.

Within the Food Division, Vegetables recorded 20.3% and was the Subclass with the highest rate of inflation, which is lower than last month’s 24.2%.

Overall month-on-month Food inflation was 1.2% representing 0.3 percentage point lower than last month, but higher than the average over the last 12 months

At the regional level, the overall year-on-year inflation ranged from 1.9% in Upper West Region to 15.1% in the Greater Accra Region. It was only in the Upper West Region, did Food outpace Non-Food inflation recording -0.6% food inflation and 4.5% non-food inflation.

The largest difference in Food and Non-Food inflation was recorded in the Eastern Region with 12.8% and 2.6% respectively.

Source:B&FT