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| Inflation for November hits 50.3%; highest in 30 years. |
The Ghana Statistical Service (GSS) reported on Wednesday, 14 December, 2022 that,
annual consumer inflation reached 50.3 percent in November, the highest, in three decades.
The government statistician, Samuel Kobina Annim, reported the
hike at a press conference and linked it to rising food and non-food costs and
currency rate depreciation.
Food inflation rose to 55.3 percent in November from 43.7 percent
in October, while non-food inflation rose to 46.5 percent from 37.8 percent.
Inflation was 48.3% for locally produced goods and 55.1 percent
for imported goods.
To curb inflation and slow the local currency's depreciation, the
Bank of Ghana raised its benchmark policy rate by 250 basis points to 27 percent
on November 28.
On Tuesday, a visiting IMF delegation unveiled a three-year
bailout programme for Ghana to help revive its economy.
Also Read: Ghana's Inflation surges to 40.4% in October.
Source: ghananews.hrforum.uk
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