Ghana’s Inflation Hits 50.3%

Continuous increases in prices of housing, electricity and fuel have pushed Ghana’s inflation rate to hit 50.3% for the month of November 2022.

November’s inflation rate is a significant increase from the 40.4% recorded for October 2022.

This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday.

Per the data, food inflation hit 55.3%, from October’s rate of 43.7% and Non-food inflation also shot up by 7.2% to 46.5% in November 2022.

On a regional level, the Eastern region recorded the highest inflation rate of 63.3%. This was followed by the Greater Accra region with an inflation rate of 61.6%.

The consumer price index, which measures a wide basket of goods and services rose to 0.3% percentage points month-on-month.