{"id":161923,"date":"2024-03-13T17:25:02","date_gmt":"2024-03-13T17:25:02","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/03\/13\/inflation-drops-to-23-2-for-february-2024\/"},"modified":"2024-03-13T17:25:02","modified_gmt":"2024-03-13T17:25:02","slug":"inflation-drops-to-23-2-for-february-2024","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/03\/13\/inflation-drops-to-23-2-for-february-2024\/","title":{"rendered":"Inflation Drops To 23.2% For February 2024"},"content":{"rendered":"<p><\/p>\n<div>\n<p><strong>Prof Samuel Annim<\/strong><\/p>\n<p>\u00a0<\/p>\n<p>The latest data from the Ghana Statistical Service (GSS) has shown a decline in the country\u2019s inflation rate, with the figure for February standing at 23.2 percent.<\/p>\n<p>This represents a decrease of 0.3 percentage points from the 23.5 percent recorded in January.<\/p>\n<p>During a press briefing in Accra on Wednesday, Government Statistician Prof. Samuel Kobina Anim provided a breakdown of the figures, explaining that the 23.2 percent indicates an increase in the prices of goods and services.<\/p>\n<p>\u201cThe 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,\u201d he said.<\/p>\n<p>Prof. Anim further highlighted that the decrease in inflation marks a reversal of the marginal increase recorded in January 2024 when the rate rose to 23.5 percent.<\/p>\n<p>\u201cThis 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,\u201d he explained.<\/p>\n<p>Further analysis of the data revealed that food and non-food inflation stood at 27.0 percent and 20.0 percent respectively.<\/p>\n<p>\u201cFrom a food and non-food inflation perspective, food inflation for February 2024 stood at 27.0 percent, and non-food inflation for the month of February 2024 stood at 20.0 percent,\u201d Prof. Anim stated.<\/p>\n<p>The decline in inflation is welcome news for Ghanaians who have been grappling with high prices of goods and services. The government will likely view this as a positive sign of progress in managing the country\u2019s economy.<\/p>\n<p>While the decrease in the overall inflation rate is encouraging, food inflation remains relatively high, indicating ongoing challenges in the agriculture and food supply sectors. This may require targeted interventions to address the root causes of the increased food prices.<\/p>\n<p>Experts will closely monitor future inflation data to determine whether the decline in February is an isolated occurrence or the start of a sustained trend. Policy adjustments and economic measures may be necessary to ensure a stable and favorable inflation rate in the long term.<\/p>\n<p>Ghana\u2019s economy has shown resilience in recent years, but sustaining economic growth while managing inflation will require continued efforts and effective policy implementation.<\/p>\n<p><strong>By Vincent Kubi<\/strong><\/p>\n<p><!-- AI CONTENT END 2 -->\n\t<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Prof Samuel Annim \u00a0 The latest data from the Ghana Statistical Service (GSS) has shown a decline in the country\u2019s inflation rate, with the figure for February standing at 23.2 percent. This represents a decrease of 0.3 percentage points from the 23.5 percent recorded in January. During a press briefing in Accra on Wednesday, Government [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":402,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-161923","post","type-post","status-publish","format-standard","has-post-thumbnail","category-local-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Inflation Drops To 23.2% For February 2024 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/03\/13\/inflation-drops-to-23-2-for-february-2024\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Inflation Drops To 23.2% For February 2024 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Prof Samuel Annim \u00a0 The latest data from the Ghana Statistical Service (GSS) has shown a decline in the country\u2019s inflation rate, with the figure for February standing at 23.2 percent. This represents a decrease of 0.3 percentage points from the 23.5 percent recorded in January. 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