The Ghana Statistical Service GSS has released their latest update of data which shows that on a year on basis, from January 2020-January 2021 , the price of goods and services across the country has increased by 9.9 percent.
The rate of inflation comparing January 2021 to December 2020 is lower as it was 0.5 percentage point and returns the country’s inflation rate to within the medium -term target of 8 +|- 2percent.
Professor Samuel Annim, the government statician in speaking at a press conference, throws light on the key reasons for the drop in January’s inflation rate when compared to the rate compared to that December.
“The CPI for January stood at 122.7 leading to a year-on-year inflation (January 2020 to January 2021) being 9.9%. Variation between food and non food inflation stood at 5.1% with food inflation recording 12.8% and non food inflation recording 7.7%”
“Food inflation in January (12.8%) came down compared to the last month(14.1). Within the food division, Vegetables(20.3) was the sub class with the highest rate of inflation. Overall month -on-month food inflation was 1.2% (0.3 percent point lower than last month.Compare to last December 2020, Fruits and Nuts (-5.1%) saw a decrease in price levels, as did fish and other foods of the sea(-0.2%)”