Inflation has decreased for the fourth consecutive conservative period, with a rate of 26.4% in November.

Compared to the 35.2% reported in October 2023, this signifies an 8.8 percentage point drop.

Data from the Consumer Price Index (CPI) were made public on Thursday, December 14. The inflation rate for food was 32.2 percent year over year, while the inflation rate for non-food items was 21.7 percent.

Professor Annim added “From a Food and non-food perspective, we saw a 10.4 percentage rate difference with food inflation of 32. 2 inflation relative to 21. 7 for November 2023. The decline in food inflation was massive to non-food inflation with food inflation dropping by 12.6 Percent while non-food inflation dropped to 6. 0 percent.

“From the locally produced items and imported items perspective, we recorded a 1.0 percentage point as we continue to see the dominance of imported items inflation recording a relatively higher inflation of 21. 7 percent relative to locally produced items of 26.1 percent for November”.