Ghana’s inflation rises to 50.3% in November

The Ghana Statistical Service (GSS) has announced that Ghana's consumer inflation for November this year has hit 50.3%.

The 50.3% is an increase from the 40.4% recorded the previous month - October.

The consumer price index, according to Ghana Statistical Service measures changes in the price of a fixed basket of goods and services purchased by households.

It

Read full articlefurther said the assumption is that the basket is purchased each month, hence as the price changes each month, the total price of the basket will also change.

In a press release sighted by GhanaWeb Business, it said, "CPI for November 2022 based on the new series was 156.8 relative to 104.5 for November 2021 using the linked series. Year-on-year inflation rate for November 2022 was 50.3%. This means that in the month of November 2022 the general price level was 50.3% higher than November 2021."

Food inflation shot up to 55.3% whiles non-food inflation also rose from 37.8% to 46.5%.



ESA/FNOQ