Inflation for February 2024 slowed down to 23.2% from 23.5% recorded in January 2024.
This represents a 0.3 percentage point decrease from the 23.5% recorded last month.
According to Government Statistician, Samuel Kobina Annim, the key drivers for the ease in inflation in February were alcoholic beverages, tobacco and narcotics, and accommodation services.
“The February rate of inflation fell to 23.2 percent. This year-on-year inflation signifies that over a one-year period, prices of goods and services have gone up by 23.2 percent.
“This figure is a reversal of the marginal increase we recorded in the month of January 2024, when the slowdown that we have successfully recorded for the last seven months saw a marginal increase to 23.5 percent. In reverse, we have turned around this increase for January 2024 to a reverse of 23.2 percent.”
Food inflation slowed to 27% from 27.1% in January, while non-food price growth was 20% compared with 20.5%.
The Eastern region was once again the region with the highest rate of inflation.