Inflation on the run again as it reaches 4-month new high

Inflation in Ghana has shot beyond it ever did in recent months, making a 2.6% shift to land at 25.8%, higher than the recorded figure for February. Ghana’s inflation marginally rose from 23.2% in December to 23.5% in January 2024 before declining to 23.2% in February. However, the figure jumped from 23.2% in February to 25.*% as reported in March.

“In the month of March 2024, rate of inflation stood at 25.8%, year-on-year inflation relative to 23.2 % recorded for the month of February 2024. This indicates that we have a seen a surge in the rate of inflation by 2.6%, increasing from 23.2% to 25.8% for the month of March 2024.”

In disclosing the latest figures, the Government Statistician Prof. Samuel Kobina Anim said the increase in inflation has affected the prices of food and non-food items.

“Disaggregating this for the food and non-food perspective, the rate of inflation for food was 29.6% relative to non-food 22.6%. Both food and non-food inflation have seen a 2.6% increase in its rate of inflation between February and March 2024,”