Ghana’s inflation rate rose to 23.8% in December 2024, surpassing the government’s end-year target of 15%. This marks the fourth consecutive monthly increase, driven primarily by rising food prices. Apexnewsgh reports
The December rate is also higher than the 23.2% recorded in December 2023.
According to Government Statistician Professor Samuel Kobina Annim, the average prices of goods and services increased by 23.8% between December 2023 and December 2024. This represents a marginal increase of 0.8 percentage points from the November 2024 rate of 23.0%.
Key Inflation Highlights:
– Food Inflation: Jumped from 25.9% to 27.8%
– Non-Food Inflation: Decreased slightly from 20.7% to 20.3%
– Year-on-Year Inflation: Increased by 0.8 percentage points between November and December 2024
The significant rise in food prices has put a strain on households, compounding the country’s economic challenges. As Ghana looks to the future, analysts warn that persistent price pressures could derail recovery efforts unless urgent measures are taken.
Source: Apexnewsgh.com
