Prime News Ghana

Ghana inflation rate hits 50.3% in November 2022

By Vincent Ashitey
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Ghana's inflation rate has surged to 50.3% in the month of November 2022 from the previous 40.4 %.

The month-on-month inflation between October and November 2022 was 8.6%.

This is the 18th consecutive time the inflation rate which indicates the annual change in the prices of goods and services has increased.

READ ALSO:Ghana inflation rises to 40.4% in October

This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, December 14, 2022.

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.