GHANA’S inflation rate climbed for the fourth consecutive month in December, reaching 23.8 percent year-on-year, up from 23.0 percent in November, according to the Ghana Statistical Service.
Government statistician Samuel Kobina Annim attributed the surge to escalating food prices, stating, ‘The rate of inflation is the third highest in the last 13 months and the highest in the past eight months.’
The inflation spike comes as Ghana battles its worst economic crisis in decades, with soaring costs of living and currency depreciation taking a toll on households.
Newly sworn-in President John Dramani Mahama has pledged to bring inflation under control and stabilise the cedi, aiming to ease economic hardship. However, with global commodity prices fluctuating and Ghana’s dependence on imports, achieving price stability remains a daunting challenge.
As Ghana enters 2025, all eyes are on Mahama’s economic policies to curb inflation and steer the nation towards recovery.
