Ghana Inflation Rate Speeds Up to 6-Month High

Ghana's annual consumer inflation climbed for the third month to 23% in November 2024, the steepest since May, accelerating from 22.1% in the prior month.

Upward pressure came mostly from food prices (25.9% vs 22.8% in October), especially for staple items like beans and yams.

Non-food inflation decelerated to 20.7% from 21.5%.

On a monthly basis, consumer prices surged by 2.6% in November, after a 0.8% rise in the prior month.

Ghana is heading for its ninth general election on December 7th, with polls revealing that the ongoing cost-of-living crisis is a major concern for voters, likely to influence the election outcome significantly.