
Ghana’s inflation slows for 11th straight month in November
Ghana’s consumer inflation slowed for the 11th consecutive month, falling to 6.3% year on year in November from 8.0% in October, the statistics service said on Wednesday.
Government statistician Alhassan Iddrisu told a press conference that the drop was mostly driven by a slowdown in food inflation.
Read also: Ghana central bank delivers third big rate cut as inflation tumbles
“Domestic price conditions and external market conditions are both stabilising,” Iddrisu said, adding that inflation was now at its lowest since a rebasing exercise in 2021.
The West African gold-, oil- and cocoa-producing nation is emerging from its most severe economic crisis in decades.
Ghana’s central bank cut its main interest rate by a cumulative 1,000 basis points at its last three policy meetings, citing an improved economic outlook and expectations for inflation to fall further.
Read also: Ghana’s central bank delivers record rate cut as inflation eases
Last week it lowered the rate by 350 basis points to 18% following cuts of 350 basis points in September and 300 basis points in July.
The Bank of Ghana targets inflation of 8% with a tolerance band of 2 percentage points on either side.
Inflation was at 23.8% in December last year.
Join BusinessDay whatsapp Channel, to stay up to date
Community Reactions
AI-Powered Insights
Related Stories

Decent jobs lacking globally as unemployment ‘stable’ in 2026

World Bank upgrades Nigeria’s growth outlook to 4.4% for 2026

SHELT recognized in the MSSP 250 list for 2025



Discussion (0)