The year-on-year consumer inflation rate for November 2023 has dropped to 26.4% from 35.2% in October 2023, the Ghana Statistical Service (GSS) announced on Thursday, December 14.
This represents an 8.8% percentage point decrease from the 35.2% recorded in October 2023.
This marks a fourth consecutive drop since August this year.
According to figures from the GSS, food inflation was the major contributor to the decline in the rate of inflation.
Food inflation dropped by 12.6% to 32.2% in November 2023. The month-on-month rate of food inflation was 0.8%.
Non-food inflation also dropped to 21.7% compared to 27.7% in October 2023. The month-on-month rate of non-food inflation was 2.2%.