Ghana’s inflation hits 50.3%

Inflation in Ghana has gone up again according to the latest announcement from the Ghana Statistical Service (GSS).

The Ghana Statistical Service on Wednesday, December 14, said the inflation rate has gone up to 50.3% in the month of November 2022 from the previous 40.4 %.

In its explanation, the Ghana Statistical Service said Food inflation recorded in the month was 55.3%, from October’s rate of 43.7%.

Meanwhile, non-food inflation has also hiked by 7.2% to 46.5% in November 2022.

While inflation for locally produced items also stood at 48.3%, inflation for imported items recorded in November stood at 55.1%.

Experts say if inflation does not come down in December, prices of goods and services will remain high.

Fortunately, following the appreciation of the Ghanaian cedi, things are expected to get better very soon.