Inflation: 2023 ends with 23.2%, 'gorbɛ' and 19 other products record rates above 40%

The latest data released by the Ghana Statistical Service indicates that the inflation rate for December 2023 stood at 23.2%.

This figure reveals a decrease from November 2023's rate of 26.4%. However, a more detailed analysis shows a nuanced situation: certain items, including fried plantain and beans (gorbɛ), experienced inflation rates surpassing 40%.

Specifically, the price of fried plantain and beans, known as 'gorbɛ', surged by 44.5% in December 2023 compared to the same period in 2022. Over just a month—from November to December 2023—gorbɛ prices increased by an average of 6.3%, contributing 1.5% to the national inflation rate.

Among the 20 items flagged by the Statistical Service for potential policy attention, tea bags, carrots, crabs, and country milk all exhibited inflation rates exceeding 50%. This data underscores the challenges posed by considerable price hikes in essential commodities.

Below are the 20 items listed by the Ghana Statistical Service and their corresponding inflation rates for the month of December 2023

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Food

Inflation