APA – Accra (Ghana)
Ghana’s inflation rate for the month of November dropped to 26.4 per cent, down from 35.2 per cent in Oc¬tober 2023, which is the lowest in 13 months, according to the Ghana Statistical Service (GSS).
The Government Statistician, Professor Samuel K. Annim, told a news conference on Thursday in Accra that the November 2023 inflation rate represented 8.8percentage point decrease relative to the rate recorded in October 2023.
He said that the Month-on-month inflation between October 2023 (0.6 per cent) and November 2023 was 1.5 per cent.
Prof, Annim said that food inflation was the major contribu¬tor to the drop in inflation during the period under review.
According to him, food inflation fell by 12.6 percentage point to 32.2 per cent in November from 44.8 per cent, with month-on-month change rate of 0.8 per cent.
He explained that live animals, meat (38.5 per cent), vegetables, tubers, plantains, cooking bananas and pulses (35.9 per cent), ready-made food and other products (28.2 per cent) drove the November 2023 food inflation rate.
Prof. Annim said that non-food inflation fell by six percentage points to 21.7 per cent in No¬vember from 27.7 per cent in Oc¬tober, with a month-on-month change rate of 2.2 per cent, while housing, water, elec¬tricity, gas and other fuels (21.5 per cent), transport (11.5 per cent) drove the November 2023 non-food inflation rate down.
“Inflation for locally produced items fell to 26.1 per cent in November from 34.4 per cent in October, while inflation for imported items also declined to 27.1per cent in November from 37.0 per cent in October,” the report by the Ghanaian Times on Friday quoted Prof. Annim as saying.
He added that on the regional inflation, the Western Region with 39.8 per cent recorded the highest rate of inflation, while the Greater Accra recorded the lowest rate of inflation.
GIK/APA
Ghana’s inflation rate for November drops to 26.4% – GSS
