Ghana’s inflation highest in 18 years


By Aminu Kutama

The Ghana Statistical Service announced on Wednesday that the country’s annual consumer inflation rose to 50.3% in November, up from 40.4% the previous month.

The West African country has been facing a severe economic crisis that triggered a restructuring of its local debts last week. The country also announced a deal with the IMF for a $3 billion bailout.

Ghana’s inflation rate was just 13.6% in January this year but has continued to experience price increases driven by currency depreciation and a fiscal crisis.

The country’s statistics office said costs rose the most in the category of housing, water, gas and electricity, with prices up 79.1 percent.

It was followed by furnishings and household equipment at 65.7%, followed by transport, including fuel at 63.1 percent.

Related articles

Recent articles