The Ghana Statistical Service (GSS) has revealed that Ghana’s annual inflation rate accelerated to 45.0 per cent for March 2023 higher than March 2022 which was 19.4%.
Speaking to journalists on Wednesday April 12, 2023, government statistician, Professor Samuel Kobina Annim indicated that, the Year – on – year inflation rate between February 2023 and March 2023 sharply declined from 52.8 per cent to 45.0 per cent respectively.
The month -on – month inflation rate between February 2023 and March 2023 also sharply dropped by -1.2 per cent (-1.2%).
According to Professor Samuel Kobina Annim, this means that in the month of March 2023, the general price level was 45.0% higher than in the same period in 2022.
Again, Food inflation has dropped to 50.8 per cent with 59.1 per cent for February 2023, bringing the Month on month Food inflation to -0.9%.
Inflation for locally produced items was 41.9 per cent while that for imported items was 51.6%.
The Government Statistician also disclosed that the non- food inflation sharply dropped to 40.6 per cent than February 2023 which was 47.9 per cent. The month – on -month non- food inflation was -1.5per cent.
The Western North Region recorded the highest inflation of 67.3% with the Volta region maintaining the records of having the lowest regional inflation of 25.6%.
