Ghana’s Inflation Rate Slides to 23.2%
ACCRA: Ghana’s annual inflation rate has declined for the 5th straight month to 23.2% in December 2023, the statistics office said in a report. This slowdown came as Accra initiated an economic policy to stem inflation rate pressure in the country.
Headline inflation in Ghana printed at 26.4% in November 2023, according to statistics office data released. The recent reading was the lowest reading since March 2022 but still well above the central bank’s target band of 6% to 10%.
Prices slowed down for both food to 28.7% vs 32.2% in November and non-food items settled at 18.7% vs 21.7% in the prior month, data showed. On a monthly basis, consumer prices rose by 1.2% in December, after a 1.5% increase in the prior month. Naira Devaluation Deepens Economic Crisis in Nigeria
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