Inflation Now 26.4%

Ghana’s Consumer Price Inflation (CPI) has seen a further drop in the month of November 2023 after October’s 35.2% rate.

It stands at 26.4% according to the Ghana Statistical Service (GSS).

The drop is seen in food, non-food, locally produced and imported commodities compared to September 2023 per data from the GSS.

However, food inflation and inflation for imported goods in October recorded rates above the national rate. Food inflation last month was 32.2%; non-food 21.7%; locally produced goods recorded at 26.1%; and imported goods had 27.1%.

A report by the GSS indicated alcoholic beverages, tobacco and narcotics; personal care, social protection; food and non-alcoholic beverages; furnishing, household equipment and routine household maintenance; and restaurants and accommodation services drove November’s national inflation rate.

These divisions recorded rates above the national rate.

In terms of regions, seven regions recorded inflations above 30%. They include North East 35.5%, Northern 35%, Bono 31.3%, Eastern 37.8%, Volta 31.8%, Western 39.8% and Western North 31.1%.

With the Greater Accra Region being crowned the region with the lowest inflation of 19.8%, data from the GSS showed the Upper West recorded 29.5%, Upper East 29.6%, Savannah 22.2%, Oti 20.9%, Bono East 26.3%, Ahafo 21.3%, Ashanti 23.5% and Central 24.5%.