Ghana's inflation has increased marginally for the fourth consecutive month, reaching 23.8% in December 2024, up from 23% in November 2024.

This represents a significant deviation from the projected range of 15% ± 2 by the Bank of Ghana and the Ministry of Finance at the start of the year [2024].

The development is expected to reduce the prospects of an interest-rate cut later this month by the Bank of Ghana.

According to the Ghana Statistical Service (GSS), the recent rise in inflation was primarily driven by food and non-alcoholic beverages, which contributed to more than half of the overall inflation figure.

MA

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