Year-on-year Inflation for the month of February 2023 slowed down to 52.8%, the Ghana Statistical Service has pointed out.
This is a reduction from the January 2023 estimate of 53.6%, which was influenced by the fall in inflation of transportation and other non-food items.
This is the second consecutive time that the rate has dropped in 20 months. In January 2023, inflation fell marginally to 53.6%, from 54.1% recorded in December 2022.
Five divisions recorded inflation rates higher than the national average. They are Transport (70.3%); Furnishings, Household Equipment (69.8%); Housing, Water, Electricity, Gas and Other Fuels (69.6%); Personal care, Social Protection and Miscellaneous Services (62.5%) and Food and non-Alcoholic Beverages (59.5%).

For food inflation, Fruits and Vegetables recorded the highest inflation of 92.5%, whilst Cocoa Drinks recoded no inflation.
Whilst Food Inflation went down by 0.437% to 59.1%, Non-food Inflation remained was 47.9%.

The month-on-month inflation between January 2023 and February 2023 was 1.9%.
Also, inflation for locally produced items was 49.0%, inflation for imported items was 62.3%.
Addressing Journalists on the new rate, Government Statistician, Professor Samuel Kobina Annim hinted that the reduction is a confirmation of a sustained downward trend in the rate of inflation so far this year.
Prof. Annim, however, explained that even though food was the fifth item that recorded inflation rate higher than the national average, its weight of 43.7% meant it contributed more to the national rate. This translated into a 48.1% in February 2023.
Greater Accra records highest inflation
The Greater Accra region recorded the highest inflation of 60.1%, whereas the Volta region recorded the lowest rate of inflation of 35.4%.
The Ashanti region recorded an inflation of 43.3% and Western region recorded an inflation of 49.2%.

Latest Stories
-
Presidential Elections: Between Ghana, Nigeria: 7 reasons BVAS may never work in Nigeria — Investigation
4 minutes -
Friedkin Group completes Everton takeover
9 minutes -
CAF Executive Committee approves 2025 Competition Calendar
15 minutes -
FIFA Rankings: Ghana ends 2024 77th in the world, maintains 14th position in Africa
22 minutes -
Kwame Agbodza slams $147m e-gate system as ‘create, loot, and share’ scheme
56 minutes -
Drones deployed in Bawku to track down attackers
2 hours -
Today’s front pages: Thursday, December 19, 2024
2 hours -
ORAL: Not all corruption cases fall under the Special Prosecutor – Domelevo
2 hours -
Two dead and 65 cases of malnutrition recorded in Bawku for 2024
3 hours -
NDC’s control of major media houses gave them edge in 2024 polls, says Bawumia
3 hours -
49th SWAG Awards: High jump Queen Rose Yeboah and Grace Mintah lead nominees for topmost award
3 hours -
ORAL: ‘National Cathedral spending is an ‘expensive pit of deceit’ – Ablakwa
3 hours -
Our people didn’t vote – Bawumia explains why the NPP lost
3 hours -
Dr Bawumia had no choice given Mahama’s decisive victory – Malik Basintale
3 hours -
ORAL: ‘Clergy were misled by Akufo-Addo’ – Ablakwa on National Cathedral scandal
3 hours