{"id":58128,"date":"2022-12-15T16:57:06","date_gmt":"2022-12-15T16:57:06","guid":{"rendered":"https:\/\/www.kumasionlinegh.com\/?p=58128"},"modified":"2022-12-15T16:57:11","modified_gmt":"2022-12-15T16:57:11","slug":"50-3-inflation-rate-in-november-was-expected","status":"publish","type":"post","link":"https:\/\/www.kumasionlinetv.com\/?p=58128","title":{"rendered":"<strong>50.3% inflation rate in November was expected<\/strong>"},"content":{"rendered":"\n<p>Director of Research at the Bank of Ghana (BoG), Dr. Philip Abradu-Otoo, says Ghana\u2019s current inflation of 50.3% was expected.<\/p>\n\n\n\n<p>He said the BoG in one of its Monetary Policy Committee (MPC) press releases anticipated that inflation will continue to rise.<\/p>\n\n\n\n<p>Speaking on the<strong>&nbsp;Point of View<\/strong>&nbsp;<strong>Citi TV<\/strong>, Dr. Abradu-Otoo explained that, \u201cthe inflation number we are seeing in November is expected. Given the level of depreciation we saw in October, inflation has just moved to 50.3%. You recall in our MPC press statement, we indicated that inflation will continue to rise. We expected inflation to peak somewhere in the first quarter of 2023 because we have factored in all these events\u201d.<\/p>\n\n\n\n<p>According to the Director of Research at BoG, the central bank peaked inflation at 50.1%.<\/p>\n\n\n\n<p>Continuous increases in prices of housing, electricity and fuel have pushed Ghana\u2019s inflation rate to hit 50.3% for the month of November 2022.<\/p>\n\n\n\n<p>November\u2019s inflation rate is a significant increase from the 40.4% recorded for October 2022.<\/p>\n\n\n\n<p>This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, December 14, 2022.<\/p>\n\n\n\n<p>Per the data, food inflation hit 55.3%, from October\u2019s rate of 43.7% and Non-food inflation also shot up by 7.2% to 46.5% in November 2022.<\/p>\n\n\n\n<p>The Greater Accra region was hit with an inflation rate of 61.6%, whereas the Eastern region recorded the highest inflation rate of 63.3%.<\/p>\n\n\n\n<p><strong>SEND A STORY:<\/strong>\u00a0Do you have a story for us or need a promotion \/ advertisement? Submit them via our email\u00a0<strong><a href=\"mailto:dannyboy744@gmail.com\">dannyboy744@gmail.com<\/a>\u00a0and via on +233 266777777<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Director of Research at the Bank of Ghana (BoG), Dr. Philip Abradu-Otoo, says Ghana\u2019s current inflation of 50.3% was expected. He said the BoG in one of its Monetary Policy Committee (MPC) press releases anticipated that inflation will continue to rise. Speaking on the&nbsp;Point of View&nbsp;Citi TV, Dr. Abradu-Otoo explained that, \u201cthe inflation number we [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":58129,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"iawp_total_views":0,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-58128","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-top-news"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>50.3% inflation rate in November was expected - Kumasi Online TV<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.kumasionlinetv.com\/?p=58128\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"50.3% inflation rate in November was expected - Kumasi Online TV\" \/>\n<meta property=\"og:description\" content=\"Director of Research at the Bank of Ghana (BoG), Dr. Philip Abradu-Otoo, says Ghana\u2019s current inflation of 50.3% was expected. He said the BoG in one of its Monetary Policy Committee (MPC) press releases anticipated that inflation will continue to rise. 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