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Ghana inflation rises for third month in November

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Ghana inflation rises for third month in November

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4th December 2024

By: Reuters

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Ghana's consumer inflation rose for the third month in a row in November, to 23.0% year on year from 22.1% in October, the statistics service said on Wednesday.

Government statistician Samuel Kobina Annim told a news conference that the latest increase was driven by food prices.

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"Vegetables, tubers and plantains are the major drivers of the increment in food inflation," he said.

Last week, Ghana's central bank kept its main interest rate at 27.00%, citing high food prices among reasons why it saw an elevated inflation profile.

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The West African gold and cocoa producer has been battling to emerge from its worst economic crisis in a generation.

The International Monetary Fund on Monday approved the third review of Ghana's $3-billion lending programme, unlocking an immediate disbursement of about $360-million.

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