Ghana’s inflation rate for November 2011 virtually unchanged

Ghana recorded an inflation rate of 8.55% in November 2011, down from October’s 8.56%, according to figures released by the Ghana Statistical Service (GSS) December 14, 2011.

Ghana is targeting an end-year inflation rate of 9%.

With the insignificant drop, it is likely that the Bank of Ghana (BoG), which factors the inflation rate in its policy rate, will leave the lending rate unchanged at 12.5%.

The country’s policy rate will be announced December 21, 2011, according to a statement from the central bank.

By Ekow Quandzie