November’s high inflation rate was driven by the increase in food prices
Ghana’s inflation rate for November 2024 has risen to 23%. This marks the third consecutive monthly increase after a five-month decline.
The 23.0% rate for November 2024 represents a 0.9 percentage point increase relative to the 22.1% year-on-year inflation recorded the previous month.
According to the Government Statistician, Professor Samuel Annim, the high inflation rate is attributed to significant increases in food prices.
Food inflation rose from 22.8% to 25.9% due to the high cost of living.
“On a month-on-month basis, food inflation surged to 3.8% in November 2024, compared to just 0.3% in October,” he said.
“This means that in the month of November 2024, the general price levels of goods and services went up by 23.0% compared to November 2023,” the government statistician explained.
On the regional level, the Upper East Region recorded the highest inflation rate at 44.9%, while the Eastern Region had the lowest – 18.7%.
SA/MA
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