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The Ghana Statistical Service (GSS) reported on Thursday, December 14, 2023, that the consumer inflation rate for November 2023 has decreased sharply from 35.2% in October 2023 to 26.4%.
This indicates that the overall price level was 26.4% higher in November 2023 than it was in November 2022.
This is the fourth decline since August of this year.
Between October 2023 and November 2023, there was 1.5% monthly inflation.
The GSS data indicates that the primary cause of the inflation rate decline was food inflation.
In November 2023, food inflation decreased by 12.6% to 32.2%. The rate of food inflation month over month was 0.8%.
In October 2023, non-food inflation fell to 21.7% from 27.7%. The rate of non-food inflation month over month was 2.2%.
Source: Ghanatodayonline.com
