The rising cost of Housing, Water, Electricity, Gas and other Fuels (28.7%) as well as Transport (17.4%) pushed the rate of inflation for January 2022 to 13.9%, data from the Ghana Statistical Service has revealed.

If the trend continues, lending rates as well as cost of living will go up further.

According to the Ghana Statistical Service, food inflation recorded a rate of 13.7%, higher than both last month rate (12.8%) and the average of the previous months (10.4%).

Non-food inflation on the other hand went up again in January 2022 to 14.1%, compared with the 12.5% recorded in December 2021.

Also, the inflation for imported goods was 11.0%, higher than the 10.4% recorded in December 2021, while the inflation for locally produced items was 15.0%, up from the 13.3% recorded in December 2021.

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%.

For non-food inflation, Upper West registered the lowest inflation rate of 6.6%, whilst Greater Accra region recorded the highest rate of inflation of 22.2%