Ghana inflation hits record 54.1%, food prices soar

Ghana’s inflation rate hit a record 54.1% in December 2022, as a result of increased in prices of food, housing, and transport in the country.

The inflation rate as at November 2022 was 50.3%, Government Statistician Samuel Kobina Annim told reporters on Wednesday in Accra,the country’s capital.

According to Bloomberg, the 54.1% inflation rate was the seventh-highest in the world among 120 nations, including the eurozone.

The inflation rate has now surpassed the 10% ceiling of the country’s central bank’s target range since September 2021.

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