Government Statistician, Professor Samuel Kobina Annim, has indicated that inflation for February 2023 has dropped to 23. 2% from 23.5% recorded in January 2024.
He revealed that, even though inflation for February 2024 has slowed down, the 23.2 percent indicates an increase in the prices of goods and services.
Professor Kobina Anim made this known during a press briefing in Accra on Wednesday, March 13, 2024.
“The February rate of inflation fell to 23.2 percent. This year-on-year inflation signifies that over a one-year period, prices of goods and services have gone up by 23.2 percent. This figure is a reversal of the marginal increase we recorded in January 2024, when the slowdown that we have successfully recorded for the last seven months saw a marginal increase to 23.5 percent. In reverse, we have turned around this increase for January 2024 to a reverse of 23.2 percent”, Professor Anim said.
He announced that the non-food inflation declined to 20.0% in February 2024 from 20.5% in January 2024, however, Food inflation shot up marginally to 27.1% in February 2024 from 27.0% in January 2024.
“From a food and non-food inflation perspective, food inflation for February 2024 stood at 27.0 percent and non-food inflation for February 2024 stood at 20.0 percent”, he added.
