Govt misses 2024 inflation target

Inflation for De­cember 2024 went up marginally to 23.8 per cent from the November 2024 figure of 23 per cent.

This is higher than the revised 18 per cent end-of-year target set by the Bank of Ghana.

The marginal increase in the December inflation was influ­enced by rising prices of some foodstuffs on the market over the past month.

Food inflation for December 2024 went up to 27.8 per cent compared to 25.9 per cent in November 2024.

However, non-food inflation went down to 20.3 per cent in December compared to 20.7 per cent in November 2024.

In addition, inflation for local­ly produced items went up to 26.4 per cent in December 2024 compared to 25.4 per cent in November 2024.

Also, inflation for import­ed items went up marginally in December to 17.9 per cent compared to 17.6 per cent in November 2024.

Alcoholic beverages, tobacco and narcotics recorded an infla­tion of 28.4 per cent.

Food and non-alcoholic beverages also recorded 27.8 per cent while Housing, water, elec­tricity, gas and other foods had 26.3 per cent.

These divisions recorded the higher inflation compared to the national inflation.

The Upper East region recorded the highest regional inflation of 40.6 per cent

Meanwhile, the Eastern region had the lowest regional inflation rate of 16.8 per cent. –Myjoyonline.com