Government Statistician Samuel Kobina Annim, while addressing the media in Ghana&#8217;s capital Accra today, attributed the increase to skyrocketing food prices.



Ghana&#8217;s annual inflation rate has surged to its highest level in eight months, reaching 23.8% in December.



This marks the fourth consecutive month of rising consumer prices, up from 23% in November.



The development comes on the heels of President John Mahama&#8217;s inauguration, where he acknowledged the country&#8217;s economic struggles, describing the circumstances as &#8220;dire&#8221;.



He pledged to take decisive action, outlining a plan to implement 26 measures within his first 120 days in office to drive immediate change.



Ghana&#8217;s inflation rate has been volatile in recent years. In March 2024, the inflation rate accelerated to 25.8% year-on-year, driven by a depreciating currency and higher costs for imported goods.



The country&#8217;s inflation rate has also reached as high as 54.1% in December 2022, a 22-year high.

Tag: Food prices

FORBES AFRICA SOCIAL MEDIA

Food Prices Send Ghana’s Inflation Rate To Eight-Month High