Ghana's consumer inflation rose to 54.1% year-on-year in December, up from 50.3% the previous month and its highest level in 22 years, driven by fuel, utilities and food, the statistics office said on Wednesday.
Its cedi currency slumped last year, fuelling inflation, as government spending cuts and central bank interest rate hikes failed to tame price rises.Prices rose the most in the category of housing, water, eletricity, gas and other fuels, up 82.34% year-on-year.
Furnishings and household equipment came second at 71.52%, followed by transport at 71.42%. Food and non-alcoholic beverages inflation was at 59.71% year-on-year. Ghana approached the International Monetary Fund in July to ask for financial help after soaring prices and economic hardship spurred street protests.
A staff-level agreement with the IMF for a $3 billion, three-year support package was secured in December. Debt restructuring is a condition to access the funds.that negotiations with local pension funds on the terms were ongoing.Reporting by Christian Akorlie Writing by Sofia Christensen Editing by Alexander Winning and Estelle Shirbon
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Adam Rich, 'Eight Is Enough' actor, dead at 54The actor rose to fame as a child playing the youngest Bradford family member, Nicholas, on the TV drama 'Eight Is Enough.'
Read more »
Adam Rich, 'Eight Is Enough' actor, dead at 54The actor rose to fame as a child playing the youngest Bradford family member, Nicholas, on the TV drama 'Eight Is Enough.'
Read more »
Adam Rich, child star on 'Eight Is Enough,' dies at age 54The cause of death was under investigation but was not considered to be suspicious.
Read more »
Adam Rich, 'Eight is Enough' Star, Dead at 54Adam Rich, known for his role on the sitcom, 'Eight is Enough' has died at the age of 54.
Read more »
Adam Rich, former 'Eight Is Enough' child star, dies at 54Adam Rich, the cute child actor who charmed TV audiences in the late 1970s as Nicholas Bradford on “Eight is Enough,' has died. He was 54.
Read more »
Eight is Enough star Adam Rich dies at 54Actor Adam Rich died in his Los Angeles home over the weekend. He was 54.
Read more »