ACCRA, Dec. 3 (Xinhua) -- Ghana's inflation rate fell further to 6.3 percent in November, down 1.7 percentage points from the 8 percent recorded in the previous month, according to data released Wednesday by the Ghana Statistical Service (GSS).

Alhassan Iddrisu, government statistician at the GSS, told reporters that the latest figure marks the lowest inflation rate since the rebasing of the inflation basket in 2021 and the 11th consecutive monthly decline since December last year.

"Compared to October, food inflation declined by 2.9 percentage points to 6.6 percent in November, while non-food inflation also declined to 6.1 percent from the previous month's level of 6.9 percent," Iddrisu said.

Meanwhile, inflation for locally produced and imported items stood at 6.8 percent and 5 percent, respectively, compared to 8 percent and 7.8 percent a month earlier.

Iddrisu said that inflation for imported items has been easing faster than that of locally produced items due to various factors, including the strengthening of the cedi against major foreign currencies and a possible drop in the prices of imported goods in their countries of origin.

The current inflation rate is almost half of the end-year projection of 11.5 percent by the government and the central bank, driven by significant declines in both food and non-food inflation, he added.

Monetary policy decisions and exchange rate management by the Bank of Ghana have also contributed significantly to the disinflation process, the government statistician said.

In November, Ghana's central bank cut its benchmark lending rate by a further 350 basis points to 18 percent, as inflation continued to ease. ■