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Ghana and Egypt reveal December 2024 inflation rates; Nigeria’s yet to release.

Samuel Kobina Annim, Ghana Statistical Service (GSS) Statistician, reports a 0.8% increase in Ghana’s consumer inflation rate, reaching 23.8% in December. 

According to him, this marks the fourth consecutive month of inflation acceleration and the highest rate in the last eight months.

Ghana’s inflation rate has seen a significant surge, with the December 2024 rate being the third highest in the last 13 months and the highest in the last eight months, according to Samuel Kobina Annim. This rate stands at 23.8%, up from 23% in November ¹.

In contrast, Egypt’s inflation rate has taken a different turn, decelerating to 24.1% in December 2024 from 25.5% previously. The country’s Central Agency for Public Mobilization and Statistics said the December inflation data is the lowest the country has seen in two years.

Nigeria is expected to release it’s December Consumer Price Index and inflation data on January 14-15, 2025. The country’s inflation rate has been steadily increasing, reaching 34.60% in November 2024, according to reports by ZINGTIE.

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