Ghana, Egypt Announce December Inflation Figures as Nigeria Awaits Data
Ghana and Egypt have recently announced their inflation figures for December 2024, while Nigeria awaits its own data. In Ghana, the consumer inflation rate for December rose to 23.8 percent, up from 23 percent in November. This marks the fourth consecutive month of inflation acceleration, with the current rate being the highest in the last eight months. Samuel Kobina Annim, the statistician at the Ghana Statistical Service (GSS), stated that this inflation rate is the third highest in the last 13 months.
On the other hand, Egypt saw a decrease in its inflation rate for December, which dropped to 24.1 percent from 25.5 percent in November. The Central Agency for Public Mobilization and Statistics in Egypt reported that this figure is the lowest inflation rate the country has seen in two years. This decline indicates a positive shift in Egypt’s inflation trend as it works to stabilize its economy.
In Nigeria, the population is awaiting the release of its December Consumer Price Index and inflation data, which is expected between January 14th and 15th, 2025. The country has been experiencing a steady rise in inflation, with the November 2024 rate standing at 34.6 percent. This increase is largely driven by a consistent rise in food prices, which reached 39.93 percent in November, according to the National Bureau of Statistics (NBS).
As Nigerians wait for the latest inflation figures, there has been concern over the inactivity of the NBS website since it was hacked on December 18, 2024. This has raised questions about the availability of timely and accurate data, which could further complicate the country’s economic planning and decision-making.
