The Ghana Statistical Service (GSS) announced on Wednesday that the country’s inflation rate dropped to 25 percent in April, 0.8 percentage points lower than the 25.8 percent recorded a month earlier.
“The slower rate of inflation in April was due to a decline in food inflation during the month under review,” said Samuel Annim, the government statistician at the GSS, during the regular monthly briefing.
Compared to March, food inflation declined by 2.8 percentage points to 26.8 percent in April, while non-food inflation increased by 0.9 percentage points to 23.5 percent in April, he said.
Meanwhile, inflation for locally produced and imported items stood at 25.7 percent and 23.5 percent, respectively, the statistician added.
Ghana secured a 3-billion-dollar loan from the International Monetary Fund (IMF) a year ago to address its prolonged economic crisis, characterized by high inflation and unemployment.
The IMF did a second review of Ghana’s performance under the reforms in April, and the results would determine Ghana’s qualification for the disbursement of an additional 360 million dollars in balance of payment support for the country. Enditem