We hope drop in inflation rate marks the beginning of downward trend – Gabby

A leading member of the governing New Patriotic Party (NPP) Gabby Otchere-Darko has expressed optimism that the marginal drop in the inflation rate will mark the beginning of the downward trend in Ghana.

The inflation rate in Ghana for the month of January 2023 dropped marginally to 53.6% from 54.1% recorded in December 2022, the Ghana Statistical Service announced on Wednesday, February 15.

Food inflation inched up to 61.0% in January 2023, from 59.7% recorded in December 2022.

Non-food Inflation declined to 47.9% in January 2023, from 49.9 % recorded in December 2022.

Transport inflation fell for the first time in several months due to the reduction in fuel prices during the period. Prices of non-food items also declined during the period.

According to the figures, five divisions registered inflation higher than the national average.

They are Furnishings, household equipment (71.7%); Housing, water, electricity, gas and other (71.1%); Transport (68.8%); Personal care, social protection and miscellaneous services (63.1%) and Food and non-alcoholic beverages (61.0%).
Inflation falls marginally to 53.6% in January 2023.

Commenting on this in a tweet, Mr Otchere-Darko said “For the first time in 19 months, inflation has dropped in Ghana. We hope this marks the beginning of a downward trend in inflation in Ghana.”