Inflation ends at 23.2% in 2023

Inflation has decreased for the seventh straight month, with a rate of 23.2% for December 2023.

This represents a 3.2% drop in the 26.4% rate recorded for November 2023.

This implies that the general price level was 23.2 percent higher in December 2023 than it was in December 2022.

The Consumer Price Index (CPI) figures for Wednesday, January 10th, showed that non-food inflation was 18.7 percent and food inflation was 28.7 percent.

The rate of inflation for goods produced locally was 23.8 percent, while the rate for goods imported was 21.9 percent.

In terms of region, the Upper East had the lowest food inflation rate of 18.8%, while the Eastern region had the highest rate of 51.3 percent.

The end-of-year inflation rate is an improvement in comparison with the government’s projected inflation rate of 29.4% by the end of 2023.