Ghana’s inflation rate dropped sharply from 52.8 per cent in February 2023 to 45 per cent in March this year, according to the Ghana Statistical Service (GSS),
The Government Statistician, Professor Samuel Kobina Annim, announced on Wednesday in Accra that the drop was 7.8 per cent from the figures recorded in February 2023.
Prof. Annim explained that the current drop in the inflation was due to the fall in food and non-food items.
He noted that the Month on Month inflation rate between February and March this year also dropped by 1.2 per cent.
Local media reports on Thursday quoted the Government Statistician as saying that the general price level in March was 45 per cent higher than in March 2022.
According to the reports, inflation for locally produced items dropped to 41.9 per cent in March 2023 as against 49 per cent recorded in February this year, while inflation for imported goods also dropped to 51,6 per cent from 62..3 per cent recorded in February 2023.
The reports added that at the regional level, the Western North recorded the highest inflation of 67.3 per cent, while the Volta Region recorded the least inflation of 25.6 per cent.