In November 2022, Ghana's inflation increased by 9.9% to reach 50.3%, according to the most recent data from the Ghana Statistical Service (GSS).

This was anticipated given the rise in fuel prices and the depreciation of the cedi during the reviewed month.

Due to the recent rise in the cedi's value relative to the dollar and the decline in fuel prices, the trend may, however, come to an end or reverse in December 2022.

The results show that food inflation increased from October's rate of 43.7% to 55.3%.

In November 2022, non-food inflation soared by 7.2% to 46.5%.

Inflation for locally produced items also stood at 48.3%, whilst inflation for imported items was 55.1% in November 2022.

Five groups – Housing, water, gas, electricity and other (79.1%); Furnishings, household equipment (65.7%); Transport (63.1%); Personal care, social protection and miscellaneous services (56.3%) and Food and Non-alcoholic beverages (55.3%) registered inflation rates higher than the national average.