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Inflation rate drops to 9.9% for January 2021

The Ghana Statistical Service has disclosed that the inflation rate from December 2020 to January 2021 dropped to 9.9%.
Producer Price Inflation for February up two per cent
Producer Price Inflation for February up two per cent

In its latest Consumer Price Index report, GSS also said the national month-on-month inflation from December 2020 to January 2021 was 0.9%.

The Government Statistician said: “January 2021 recorded the same year-on-year inflation as was recorded on average in 2020 (9.9%). Overall month-on-month inflation (0.9%) was just above the 2020 average (0.8%), but was considerably lower in Greater Accra (0.2%).”

"Food inflation (12.8%) came down compared to last month (14.1%), but is still slightly above the average over the last 12 months (12.3%). With this rate, Food contributed 57.0% to the total inflation."

"This is still above the average for the last year and a half, but slightly down from last month (59.1%)."

"Within the Food Division, Vegetables (20.3%) was the Subclass with the highest rate of inflation, which is lower than last month (24.2%). Overall month-on-month Food inflation was 1.2% (0.3 percentage point lower than last month, but higher than the average over the last 12 months)."

"Compared to last December 2020, Fruits and Nuts (-5.1%) saw a decrease in price levels, as did Fish and Other Seafood (-0.2%). Similar to last month, Alcoholic Beverages and Tobacco saw a relatively high month-on-month inflation (1.4%)."

"At the regional level, the overall year-on-year inflation ranged from 1.9% in Upper West Region to 15.1% in the Greater Accra Region."

"Only in the Upper West Region (-0.6% Food inflation and 4.5% Non-Food inflation), did Food outpace Non-Food inflation."

"The largest difference in Food and Non-Food inflation was recorded in Eastern Region (12.8% and 2.6% respectively)."

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