For the fourth consecutive time, inflation has decreased, registering a rate of 26.4% in November.

This marks a significant 8.8 percentage point reduction from the 35.2% recorded in October 2023.

The Consumer Price Index (CPI) data, released on December 14, indicates that year-on-year food inflation stood at 32.2%, while non-food inflation was at 21.7%.

Government Statistician, Professor Samuel Kobina Annim, highlighted that the Western region recorded the highest inflation rate at 39.8%, while the Greater Accra region recorded the lowest inflation rate at 19.8%.

“From a Food and non-food perspective, we saw a 10.4 percentage rate difference with food inflation of 32. 2 inflation relative to 21. 7 for November 2023. The decline in food inflation was massive to non-food inflation with food inflation dropping by 12.6 Percent while non-food inflation dropped to 6. 0 percent."

“From the locally produced items and imported items perspective, we recorded a 1.0 percentage point as we continue to see the dominance of imported items inflation recording a relatively higher inflation of 21. 7 percent relative to locally produced items of 26.1 percent for November," he added.

Earlier, research institution IC Research anticipated a decrease in inflation, possibly falling below 29.0% in November 2023.