Data released by the Ghana Statistical Service (GSS) on Wednesday indicated a drop in the country’s inflation rate to 22.8 percent in June, 0.3 percentage points lower than the 23.1 percent recorded in May.
Samuel Kobina Annim, the government statistician at the GSS, attributed the marginal drop in the inflation rate to a decline in non-food inflation during the month of June.
“Compared to May, non-food inflation declined two percentage points to 21.6 percent in June, while food inflation increased 1.4 percentage points to 24 percent in June,” Annim stated.
Meanwhile, inflation for locally produced and imported items stood at 25 percent and 17.5 percent, respectively, the statistician added. The West African gold, cocoa, and crude oil exporter secured is implementing economic reforms, backed by a loan of 3 billion dollars from the International Monetary Fund, to rescue the economy from a severe meltdown with high inflation, a volatile exchange rate regime, and debt overhangs experienced in recent years.