The Ghana Statistical Service (GSS) has announced that Ghana's consumer inflation for December last year has hit 54.1%%.

The 54.1% is an increase from the 50.3% recorded the previous month - November.

The consumer price index, according to Ghana Statistical Service measures changes in the price of a fixed basket of goods and services purchased by households.

It further said the assumption is that the basket is purchased each month, hence as the price changes each month, the total price of the basket will also change.

In a press release sighted by GhanaWeb, it said, "year-on-year inflation rate for December 2022 was 54.1%. This means that in the month of December 2022 the general price level was 54.1% higher than December 2021. Month-on-month inflation between November and December 2022 was 3.8%."

Food inflation shot up from 55.3% to 59.7% whiles non-food inflation also rose to 49.9%.