Ghana’s Inflation Increase in December

ACCRA (Reuters) – Ghana’s consumer inflation rose for the fourth consecutive month in December, reaching 23.8% year-on-year, up from 23.0% in November, according to the statistics service.

Government statistician Samuel Kobina Annim announced at a news conference that the increase was primarily due to higher food prices.

> “The rate of inflation… is the third highest in the last 13 months and the highest in the last eight months,” Annim stated.

Ghana, a prominent producer of gold and cocoa, is struggling to recover from its worst economic crisis in a generation.

President John Dramani Mahama, who was sworn in for a second term on Tuesday, has vowed to address inflation and currency depreciation to alleviate Ghana’s cost-of-living crisis.