March 2023 inflation rate drops to 45% from 52.8%

Ghana has recorded a third consecutive decline in inflation

The Ghana Statistical Service (GSS) has said the inflation rate for March 2023 decline to 45.0 percent.

This comes after the rate for February recorded 52.8 percent. This current decline however represents a 7.8 percentage points drop.

This would be third the consecutive decline that the country has witnessed in its national inflation rate after marginal declines were recorded in January and February 2023.

On the month-on-month basis, the GSS said the difference in inflation between February 2023 and March 2023 was -1.2 percent while food inflation was pegged at 50.8 percent from 59.1 percent recorded in February.

Non-food inflation on the other hand, was pegged at 40.6 percent from February's rate of 47.9 percent.

The Service further added that the inflation rate for locally produced items was 41.9 percent while the figure for imported items was pegged at 51.6 percent.

MA/FNOQ