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VEO News > Blog > Hot Stories > Ghana inflation hits 40%
Hot Stories

Ghana inflation hits 40%

Rufai Oseni
Last updated: 2022/11/09 at 1:07 PM
Rufai Oseni Published November 9, 2022
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Ghana’s inflation rate climbed more than expected in October, raising pressure on the central bank to continue increasing borrowing costs that are already at a more than five-year high.

Annual inflation quickened to 40.4% in Africa’s second-largest gold producer, compared with 37.2% a month prior, Government Statistician Samuel Kobina Annim told reporters Wednesday in the capital, Accra. That exceeded the median expectation of 39.5% of three economists in a Bloomberg survey. The agency last month changedits reference year to 2021 from 2018.

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