Inflation continues upward trend, hits 13.9% at end-January 2022
Heading inflation for the month of January 2022 has been pegged at 13.9% by the Ghana Statistical Service (GSS).
The recorded headline inflation rate for January 2022 compared to the previous month’s -December 2021 – inflation rate of 12.6% marks an increment of 1.3 percentage points.
On a month-to-month basis, inflation between December 2021 and January 2022 was 2.1%.
According to the GSS, the rising cost of Housing, Water, Electricity, Gas and other Fuels (28.7%) as well as Transport (17.4%) pushed the rate of inflation for January 2022 to 13.9%.
Food inflation for the month of January 2022, the GSS noted was 13.7%, higher than both December 2021’s food inflation of 12.8%.
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Non-food inflation on the other hand went up again in January 2022 to 14.1%, compared with the 12.5% recorded in December 2021.
Inflation for imported goods was 11.0%, higher than the 10.4% recorded in December 2021, while the inflation for locally produced items was 15.0%, up from the 13.3% recorded in December 2021.
At the regional level, 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 of 5.0% with the Upper West region recording a negative month-on-month inflation rate of -1.0% in January 2022.
