Food Prices Drive Inflation to 23% in November
Headline inflation increased to 23.0% in November 2024, up from 22.1% in October, according to the latest data released by the Ghana Statistical Service (GSS).
The rise marks the third consecutive monthly increase after a five-month downward trend.
Government Statistician, Prof. Samuel Kobina Anim, attributed the uptick to a surge in food inflation, which climbed from 22.8% in October to 25.9% in November.
In contrast, non-food inflation saw a marginal decline, easing from 21.5% to 20.7% during the same period.
The 23.0% inflation rate represents a 0.9 percentage point increase over the previous month, which recorded a 0.6 percentage point year-on-year inflation growth.
Inflation for locally produced items went up to 25.4 percent in November 2024 compared to 24.6 percent in October 2024 while inflation for imported items went up in November to 17.6 compared to 16.3 in October 2024.
Inflation was uneven across regions with the Upper East Region recording the highest inflation rate at 44.9 percent. By contrast, the Eastern Region posted the lowest rate at 18.7 percent.
The steady rise in inflation highlights continued pressures on household purchasing power, with food prices being a significant contributor to the overall rate.
