Just in: Ghana’s inflation rate hits 50.3% in November

The Ghana Statistical Service announced on Wednesday that the country’s annual consumer inflation rose to 50.3% in November, up from 40.4% the previous month.

Ghana has been facing a severe economic crisis that triggered a restructuring of its local debts last week. The country also announced a deal with the IMF for a $3 billion bailout.

Ghana’s inflation rate was just 13.6% in January this year but has continued to experience price increases driven by currency depreciation and a fiscal crisis.

Details later….