Inflation has fallen for the fourth consecutive time, recording a rate of 26.4% in November. This is a decrease of 8.8 percentage points from the 35.2% recorded in October 2023.
The Consumer Price Index (CPI) data, released on Thursday, December 14, shows that year-on-year food inflation stood at 32.2%, while non-food inflation was at 21.7%.
Professor Samuel Kobina Annim, the Government Statistician, highlighted that the Western region had the highest inflation rate of 39.8% while Greater Accra had the lowest inflation rate of 19.8%.
Professor Annim has reported that there was a significant difference in inflation rates between food and non-food items in November 2023.
Food inflation was recorded at 32.2 percent, which is 10.4 percentage points higher than non-food inflation at 21.7 percent.
Furthermore, there was a massive decline in food inflation by 12.6 percent compared to a 6.0 percent decline in non-food inflation.
The report also highlighted that imported items had a higher inflation rate of 21.7 percent compared to locally produced items, which recorded a relatively lower inflation rate of 26.1 percent in November.
Overall, the difference between the inflation rates of imported and locally produced items was only 1.0 percentage points.
