Ghana's Inflation Decreases to Its Lowest Level Since June 2021
Ghana's Inflation Decreases to Its Lowest Level Since June 2021
Consumer inflation in Ghana has slowed for the tenth consecutive month, falling to 8.0% year-on-year in October compared to 9.4% in September.
"This continued slowdown confirms that Ghana's prices are stabilizing after a long period of volatility," declared Alhassan Iddrisu, government statistician.
Inflation for food items fell to 9.5% in October from 11% in September.
Inflation for non-food items like clothes and rent declined to 6.9% in October from 8.2% in September.
Inflation for goods, like rice, soap, or fuel, slowed "sharply" to 9.3% in October, from 11.2% in September.
Inflation for services like transport and repairs eased slightly from 4.8% in September to 4.6% in October.
Inflation for locally made goods eased from 10.1% in September to 8% in October.
To sustain this positive trend, the government must continue practicing fiscal discipline, Iddrisu added.
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