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Ghana’s consumer price index fell to 13.3 per cent in January from 15.4 per cent recorded in the previous month, according to a statement from the Ghana Statistical Service (GSS) on Wednesday.

Baah Wadie, the Acting Government Statistician and CEO of the GSS, said in Accra that the inflation rate for January is the lowest rate since December 2013.

“The reduction in the index for January 2017 is a clear manifestation of the base rate effect, driven mainly by the higher utility price hikes that we saw in January of last year,” Wadie said.

Food inflation fell to 7 per cent in January as against 9.7 per cent in the previous month. Four subgroups group recorded inflation rates higher than the group’s average monthly rate, including fish and sea food; meat and meat products; mineral water, soft drinks, etc.; and coffee, tea and cocoa.

Non-food inflation also fell to 16.6 per cent during the month under review from 18.2 per cent posted in December. Six subgroups recorded year-on-year inflation rates higher than the group’s average monthly rate, including education; transport; recreation and culture; furnishings, household equipment and routine maintenance; health; and clothing and footwear.

Ghana began implementing a $1 billion three-year programme approved by International Monetary Fund in 2015 to check the sliding cedi, rising inflation, and tackle the country’s growing debt. In March this year, President Nana Akufo-Addo, who took office last month, is expected to present his first budget, which aims to restore fiscal discipline, liberate the private sector, boost growth, create jobs, and fight poverty with development programmes.