Ghana’s consumer inflation slowed for the 11th consecutive month, falling to 6.3% year on year in November from 8.0% in October, the statistics service said this Wednesday.<\/p>\n
Government statistician Alhassan Iddrisu told a press conference that the drop was mostly driven by a slowdown in food inflation.<\/span><\/p>\n “Domestic price conditions and external market conditions are both stabilising,” Iddrisu said, adding that inflation was now at its lowest since a rebasing exercise in 2021.<\/p>\n <\/p>\n The West African gold, oil- and cocoa-producing nation is emerging from its most severe economic crisis in decades.<\/p>\n Ghana’s central bank cut its main interest rate by a cumulative 1 000 basis points at its last three policy meetings, citing an improved economic outlook and expectations for inflation to fall further.<\/span><\/p>\n <\/p>\n Last week it lowered the rate by 350 basis points to 18% following cuts of 350 basis points in September and 300 basis points in July.<\/p>\n <\/p>\n The Bank of Ghana targets inflation of 8% with a tolerance band of two percentage points either side. <\/p>\n –Reuters–<\/p>\n","protected":false},"featured_media":16027,"template":"","meta":{"_acf_changed":false},"news-type":[44],"class_list":["post-20406","news","type-news","status-publish","has-post-thumbnail","hentry","news-type-finance","entry"],"acf":{"short_description":"Ghana's central bank cut its main interest rate by a cumulative 1 000 basis points.","published_date":null,"news_description":"Ghana's central bank cut its main interest rate by a cumulative 1 000 basis points.","form_embed":"","author":"","image_caption":""},"_links":{"self":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20406","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news"}],"about":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/types\/news"}],"version-history":[{"count":1,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20406\/revisions"}],"predecessor-version":[{"id":24456,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news\/20406\/revisions\/24456"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media\/16027"}],"wp:attachment":[{"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/media?parent=20406"}],"wp:term":[{"taxonomy":"news-type","embeddable":true,"href":"https:\/\/www.channelafrica.co.za\/channelafrica\/wp-json\/wp\/v2\/news-type?post=20406"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
\nInflation was at 23.8% in December last year.<\/p>\n