November inflation marginally shoots up to 23.0%
The country’s year-on-year inflation rate rose to 23.0 per cent in November from 22.1 per cent in October, the Ghana Statistical Service (GSS), has stated.
This represents 0.9 percentage points increase in the rate of inflation.
On month-on-month, the country’s rate of inflation increased to 2.6 per cent in November from 0.9 per cent in October.
The Government Statistician, Professor Samuel K. Annim, addressing a news conference in Accra yesterday to release the November 2024 Consumer Price Index and inflation said the November rate of inflation was the highest since June when inflation stood at 22.8 per cent.
He noted that the food inflation drove both the year-on-year and month-on-month November inflation rates.
Food inflation, he said, rose to 25.9 per cent in November from 22.8 per cent in October and on month-on-month food inflation stood at 3.8 per cent.
Prof. Annim indicated that vegetables, tubers and plantains which recorded a price change of 40.0 per cent drove food inflation in November.
The Government Statistician said non-food fell to 20.7 per cent in November from 21.5 per cent in October and on month-on-month, the non-food inflationstood at 1.4 per cent.
Additionally, Prof. Annim stated that alcoholic beverages with inflation rate of 32.0 per cent, housing, water, electricity and gas at 29.2 per cent and food and non-alcoholic beverages, 25.9 per cent recorded inflation rates above the national average of 23.0 per cent.
Moreover, the Government Statistician mentioned that inflation for locally produced items increased to 25.4 per cent in November from 24.6 per cent in October.
Inflation for imported items, Prof. Annim said rose to 17.6 per cent in November from 16.3 per cent in October.
From a regional perspective, the Government Statistician outlined that the Upper East Region recorded the highest rate of inflation of 44.9 per cent and the Eastern Region recording the lowest rate of inflation of 18.7 per cent for the month of November 2024.
BY KINGSLEY ASARE
