Report by Nana POKU
There has been a significant upsurge of inflationary rate of 11.8 % in October 2021 to 12.3 % November 2021.
This is the highest since rebasing in 2019 of Ghana’s economy. The difference of 1.4 % is the highest in three years.
This according to the Ghana Statistical Service will impact on the micro economic indicators such as interest rate, exchange rate, rate of unemployment, rent, as well as utility bills and other charges in the country.
The CPI for November 2021 is 135.2 relative to 120.4 in November 2020. The month on month inflation between October 2021 and November 2021 was far above 1 %. Food inflation was 13.1 %, but last month it was 11.5%. Non-food inflation was 11.6 but last month it was 11% . Average over last twelve months is 9.3 % and non food inflation on monthly basis is 0.8 %.
