November inflation drops to 26.4% from 35.2%

For the fourth conservative time, inflation has dropped, recording a rate of 26.4% in November.

This represents an 8.8 percentage point decrease from the 35.2 percent recorded in October 2023.

According to the Consumer Price Index (CPI) data released on Thursday, December 14, the year-on-year food inflation stood at 32.2 percent and non-food inflation at 21.7 percent.

The Government Statistician, Professor Samuel Kobina Annim highlighting the rates said the Western region recorded the highest inflation rate of 39.8 percent while Greater Accra recorded the least inflation rate of 19. 8 percent.

Professor Annim added “From a Food and non-food perspective, we saw a 10.4 percentage rate difference with food inflation of 32. 2 inflation relative to 21. 7 for November 2023. The decline in food inflation was massive to non-food inflation with food inflation dropping by 12.6 Percent while non-food inflation dropped to 6. 0 percent.

“From the locally produced items and imported items perspective, we recorded a 1.0 percentage point as we continue to see the dominance of imported items inflation recording a relatively higher inflation of 21. 7 percent relative to locally produced items of 26.1 percent for November”.

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