Ghana’s annual inflation rate quickened for the eighth consecutive month to 13.9% in January of 2022, from 12.6% in December of 2021.

That was the highest rate since December of 2016, exceeding the Bank of Ghana’s target band of 6% to 10% for a fifth straight month.

Prices advanced faster for both non-food (14.1% vs 12.5% in December), in particular housing & utilities (28.7%) and transport (17.4%); and food products (13.7% vs 12.8%). On a monthly basis, consumer prices inched up 2.1 percent, the most since April of 2020, after a 1.2 percent rise in the previous month.

Greater Accra records highest inflation rate of 18.4%

The Greater Accra region recorded the highest rate of inflation of 18.4%, far higher than the national average.

It was followed by Upper West (15.6%) and Northern (15.1%). The Ashanti region however registered an inflation rate of 13.6%.

The Eastern region registered the lowest inflation rate of 6.9%.

The region that recorded the highest food inflation was Upper West with a rate of of 24.7%. On the other hand, Eastern region recorded the lowest food inflation rate of 4.7%.

Credit: my joy online/ trading economics