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Inflation in Ghana witnesses fourth consecutive monthly drop, registering 26.4% in November

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For the fourth consecutive month, Ghana has experienced a declining inflation rate, reaching 26.4% in November – an 8.8-percentage-point decrease from the 35.2% recorded in October 2023.

This month-on-month reduction of 8.8% represents the most significant drop recorded in Ghana over the past 13 months, primarily attributed to a decrease in food inflation. Notably, fish and other seafood, as well as water and soft drinks, experienced deflation during this period.

The recently released Consumer Price Index (CPI) data on Thursday, December 14, revealed that year-on-year food inflation stood at 32.2%, while non-food inflation was recorded at 21.7%.

Government Statistician, Professor Samuel Kobina Annim, highlighted the regional disparities in inflation rates, explaining that the 19-month low in the national inflation rate was also a result of base-effect comparisons.

The Western region recorded the highest inflation rate at 39.8%, while Greater Accra registered the lowest inflation rate at 19.8%.

source by graphic news