HIGHLIGHTS DECEMBER 2023
Inflation rate for December 2023 is 23.2%
The Combined Consumer Price Index (CPI) measures the change overtime in the general price level of goods and services that households acquire for the purpose of consumption,with reference to the price level in 2021, the base year, which has an index of 100.
The year-on-year inflation rate as measured by the CPI was 23.2 percent in December 2023 (Figure 1). This rate of inflation for December 2023 is the percentage change in the Consumer Price Index (CPI) over the twelve-month period, from December 2022 to December 2023. The monthly change rate for December 2023 is 1.2 percent (Figure 3).
Food and Non-food inflation for December 2023
The Food and Non-alcoholic beverages inflation rate recorded a year-on-year inflation rate of 28.7 percent in December 2023 (see table 2). The Non-Food group recorded a year-on-year inflation rate of 18.7 percent in December 2023.
Regional Differentials
At the regional level, the year-on-year inflation rate ranged from 16.0 percent in the Greater Accra Region to
35.9 percent in the Eastern Region. Nine regions recorded an inflation rate above the national average of 23.2
percent.
Table: Consumer Price Index, Deoember 2023
Combined Food
Region Food and non-aloholic Beverages Non-food Non-food and non-food
|
Western
|
-0.4
|
10
|
0.4
|
|
Central
|
016
|
1.1
|
08
|
|
GreaterAccra
|
1.4
|
-0.2
|
0.4
|
|
Volta
|
2.2
|
1..6
|
1.'9
|
|
Eastern
|
3.4
|
3.6
|
35
|
|
Ashanti
|
0.4
|
0.8
|
0.16
|
|
WesternNorth
|
3.4
|
1.0
|
2.4
|
|
Ahafo
|
L8
|
0.7
|
1.4
|
|
Bono
|
-0.2
|
3.4
|
1.7
|
|
BonoEast
|
H3
|
1.3
|
15
|
|
oti
|
0.4
|
00
|
0.2
|
|
Northern
|
1.4
|
2..3
|
1.'9
|
|
Savannah
|
37
|
1.3
|
25
|
|
NorthEast
|
-1.2
|
0.2
|
-0.4
|
|
UpperEast
|
3.16
|
3..7
|
3.16
|
|
UpperWest
|
10
|
0.1
|
05
|
|
NATIONAL
|
1.3
|
1.10
|
1.2
|