The inflation rate in Ghana experienced a significant decline in November 2023, dropping to 26.4% compared to the previous month's rate of 35.2%, according to the Ghana Statistical Service.
This means that the general price level in November 2023 was 26.4% higher than the same month in 2022.
The month-on-month inflation between October 2023 and November 2023 was reported at 1.5%.
Professor Samuel Annim, the Government Statistician, provided insights during a press briefing, revealing that the Consumer Price Index (CPI) for November 2023 was 198.2 relative to 156.8 for November 2022.
Food inflation contributed 32.2% to the overall inflation rate, a decrease from the previous month's figure of 44.8%, with a month-on-month food inflation of 0.8%.
Non-food inflation accounted for 21.7%, down from the previous month's 27.7%, with a month-on-month increase of 2.2%.
Inflation for imported items was recorded at 27.1%, while inflation for locally produced items was slightly lower at 26.1%.
Regionally, the Western Region had the highest inflation rate at 39.8%, while the Greater Accra Region recorded the lowest at 31.3%.
The North East Region had previously recorded the highest regional inflation at 54.4%.
