The Ghana Statistics Service announced on Wednesday that the country’s annual consumer inflation rose to 50.3% in November, up from 40.4% the previous month.
Ghana has been facing a severe economic crisis that prompted a restructuring of its local debts last week. The country also announced a deal with the IMF for a $3 billion bailout.
Ghana’s inflation rate was just 13.6% in January this year, but it has continued to experience price increases driven by currency depreciation and the fiscal crisis.
This is a developing story…