The monthly change rate in December 2016 was 0.9 per cent while that of November 2016 was 0.8 per cent.
The Acting Government Statistician, Mr Baah Wadieh at a press briefing in Accra attributed the fall of the rate to lower non-food inflation and the base drift effect.
The year-on-year non-food inflation rate for December 2016 was 18.2 per cent compared with 18.7 per cent recorded in November 2016.
The main price drivers for the non-food inflation rate include transport, education, recreation and culture, housing, water, electricity, gas and other fuels.
The price drivers for the food inflation rate were meat and meat products, coffee, tea and cocoa, fish and seafood, mineral water chocolate and confectionary.
The year-on-year food inflation rate for December for imported items was 0.5 per centage point higher than that of locally produced items.
Greater Accra, Brong- Ahafo and Ashanti Regions, recorded inflation rates higher than the national average of 15.4 per cent.
The Greater Accra Region recorded the highest year-on-year inflation rate of 18.2 per cent, followed by the Ashanti Region with 15.5 per cent while the Volta Region and the Northern regions recorded the lowest rate of 13.0 per cent.