)
This represents a significant 2.9 percentage point reduction from the previous month's figure of 38.1%, as revealed by the Consumer Price Index (CPI) data released by the Ghana Statistical Service on Tuesday, November 14, 2023.
The breakdown of the inflation rates indicates that food inflation was recorded at 44.8%, while non-food inflation stood at 27.7%. These figures present a positive trend in the economic landscape, signaling potential relief for consumers.
The timing of this inflation report is particularly significant as Finance Minister Ken Ofori-Atta is scheduled to present the 2024 Budget Statement and Economic Policy to Parliament on Wednesday, November 15.
The decline in inflation rates could influence economic policies and discussions surrounding the budget.
)
)
)
Government Statistician Prof. Samuel Kobina Annim expressed optimism about the decline in inflation, suggesting that it marks a positive development for the country's economic landscape.
The consecutive reduction in inflation rates reflects efforts to stabilize and manage economic challenges in Ghana.