Ghana’s annual inflation rose to 23% in November, reaching a six-month high. This uptick was driven by power cuts and a 20% depreciation of the cedi against the dollar, which stoked food price inflation. Food prices surged 25.9%, notably for beans and yams. The central bank held interest rates at 27% in November, following a 200 bps cut in September, and expects inflation to take longer than anticipated to return to its target range of 6% to 10%.