Ghana’s consumer inflation rose to 23.8% in December, up from 23.0% in November, marking the fourth consecutive monthly increase, according to the Ghana Statistical Service.
What’s driving it
- Higher food prices were the main culprit, said Government Statistician Samuel Kobina Annim.
- “This is the third highest inflation rate in the past 13 months and the highest in eight months,” Annim noted.
The big picture
- Ghana, a major gold and cocoa producer, is grappling with its worst economic crisis in a generation.
- Rising prices and currency depreciation have deepened the cost-of-living crisis for millions.
What they’re saying
President John Dramani Mahama, sworn in for a second term on Tuesday, has pledged to address inflation and stabilize the cedi to ease economic pressures on Ghanaians.
What’s next
All eyes are on the government’s policy interventions to bring inflation under control and restore economic stability in the months ahead.
Source: Reuters
