<\/p>\n
An Economist, Theophilus Acheampong has expressed joy over the latest rate of inflation announced by the Ghana Statistical Service.<\/p>\n
He noted that he hopes that this trend continues until the country attains a single-digit inflation.<\/p>\n
According to him, as part of the conditionalities of the\u00a0International Monetary Fund, the central target by the end of this year should range between 29.4% (31.4% upper band to 25.4% lower band range), therefore recording 26% in November is good news.<\/p>\n
He wrote on X after the announcement: \u201cSome bit of good news. Long may the drop in inflation continue until we reach single digit. One of the conditionalities under Ghana\u2019s @IMFNews programme was to get inflation down to a central target of 29.4% (31.4% upper band to 25.4% lower band range) by the end of this year. With this latest announcement by @GV_Statistician, the government is on course to meet this key programme criteria by year-end.\u201d<\/p>\n
Ghana\u2019s inflation rate for November this year declined significantly to 26.4 percent from an earlier 35.2 percent recorded in October 2023.<\/p>\n
This is according to recent figures released by the Ghana Statistical Service (GSS) for the period which attributed the drop in the rate of increase as some prices of food items such as Vegetables, Cereals, and Fish reduced on the basket.<\/p>\n
The year-on-year food inflation stood at 32.2 percent while non-food inflation was pegged at 21.7 percent for the period.<\/p>\n
Government Statistician, Kobina Annim also highlighted the \u201cBase Rate Effect\u201d as a contributor to the decline and aggressive monetary policy tightening measures adopted by the\u00a0Bank of Ghana.<\/p>\n
SSD\/MA<\/p>\n
\nSome bit of good news. Long may the drop in inflation continue until we reach single digit. One of the conditionalities under Ghana\u2019s @IMFNews<\/a> programme was to get inflation down to a central target of 29.4% (31.4% upper band to 25.4% lower band range) by the end of this year.\u2026 pic.twitter.com\/7SxAh3lZ00<\/a><\/p>\n
\u2014 Theo Acheampong, PhD (@mytheoz) December 14, 2023<\/a><\/p>\n<\/blockquote>\n
Source: www.ghanaweb.com<\/p>\n
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