The National year-on-year inflation rate was 13.9% in January 2022, 1.3 percentage point higher than the 12.9% recorded in December 2021.
Prof Samuel Annim, Government Statistician, who made this known to the media in Accra today, said month-on-month inflation between December 2021 and January 2022 was 2.1%.
According to him, “For Seven months non- inflation on Year-on-Year basis surpasses food inflation and the main driver was Housing, Water, Electricity, Gas and other Fuels”.
’Housing, Transport (which includes fuel)’ once again were the two Divisions recorded the highest inflation (28.7% and 17.4% respectively).
At the regional level, he said the overall year-on-year inflation ranged from 6.9% in the Eastern Region to 18.4% in the Greater Accra Region.
Greater Accra Region recorded the highest month-on-month inflation for January 2022(5.0%).
All regions recorded positive month-on-month inflation rates except Upper West region recorded a negative month- on- month inflation rate in January 2022(-1.0%) .
“This month food inflation (13.7%) is higher than both last month food inflation (12.8%) but the average of the previous 12 months (10.4%). Food inflation’s contribution to total inflation decreased marginally from 45.2% in December 2021 to 44.2% in January 2022.
“Overall month-on-month food inflation was 2.0%, which is higher than the twelve month national month-on-month rolling average of food inflation (11%).”
Fourteen out of the fifteen food subclasses recorded positive month-on-month inflation with Fruit and Vegetables juice recording a deflation (-0.4%). Non-food year-on-year inflation on average went up again in January 2022 compared to December (from 12.5% to 14.1%). Two out of the 12 Non-food Divisions had the 12 months rolling average to be higher than the year-on-year inflation for January 2022. Housing, Water, Electricity, Gas and other fuels recorded the highest inflation in January 2022(28.7%).
The inflation for imported goods was 11.0% (which is higher than the 10.4% recorded for December 2021) while the inflation for locally produced items was 15.0% (up from the 13.3% recorded in December 2022).
