Continuous increases in prices of housing, electricity and fuel have pushed Ghana’s inflation rate to hit 50.3% for the month of November 2022.
November’s inflation rate is a significant increase from the 40.4% recorded for October 2022.
This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday.
Per the data, food inflation hit 55.3%, from October’s rate of 43.7% and Non-food inflation also shot up by 7.2% to 46.5% in November 2022.
Inflation for locally produced items also stood at 48.3%, whilst inflation for imported items was 55.1% in November 2022.
Five groups – Housing, water, gas, electricity and other (79.1%); Furnishings, household equipment (65.7%); Transport (63.1%); Personal care, social protection and miscellaneous services (56.3%) and Food and Non-alcoholic beverages (55.3%) registered inflation rates higher than the national average.
For food, eight sub-classes recorded inflation rates higher than the national average.
They include water (93.2%); milk, other diary products and eggs (75.4%); fruit and vegetable juices (73.1%); sugar and confectionary and desserts (70.0%).
On a regional level, the Eastern region recorded the highest inflation rate of 63.3%. This was followed by the Greater Accra region with an inflation rate of 61.6%.
The consumer price index, measures a wide basket of goods and services.