Ghanaians Doubt 23.2% Inflation Drops In December 2023

Looking at the statistical data and the market commodities, the inflation drop has become a topic of discussion, since no market commodities have seen a 23.2% reduction. Food items are still expensive. Ghanaians still feel the heat and cannot agree with the above decreased inflation figure.

The Ghana Statistical Service reported that as of the end of 2023, inflation in Ghana was 23.2%. This represents a 3.2% decline from the November 2023 rate of 26.4%.

Indeed, there are other reasons for Ghana’s economic difficulties, such as careless spending, corruption, and incompetent leadership. High levels of public debt, which have been made worse by a history of careless spending and inadequate fiscal management, are one of the main issues the nation is currently confronting.

Government statistician Prof. Samuel Kobina Anim not only provides crucial economic data but also highlights the notable decline in inflation rates for both food and non-food goods in December.

According to the statistics service, monthly price rises have slowed down. Specifically, between November and December 2023, prices for goods and services increased by 1.2% less than between October 2023 and November 2023 (1.5% price increase).

Regionally, the Upper East had the lowest percentage of food inflation (18.8%), while the Eastern region had the highest rate (51.3%). With a food inflation index of 22.2%, Greater Accra ranked 14th out of 16 regions.