Inflation drops to 10.3% from 11.8%

Latest data from the Ghana statistical Service has revealed that inflation has dropped from 11.8 percent to 10.3 percent for the month of January.

This represents a significant drop considering the fact that inflation increased to 11.8 percent in December.

The monthly change rate in January 2018 was 1.4 percent compared with the 1.0 recorded in December 2017.

Inflation is the rate at which the general level of prices for goods and services rise and, consequently, the purchasing power of a currency is falling.

The Upper West region recorded the highest year on year inflation rate of 12.1 percent followed by Brong Ahafo with 11.2 percent while Upper East region recorded the lowest year on year inflation of 7.8 percent in January.