Consumer inflation for the month of September slowed 2.0 percentage points to 38.1 percent in Ghana, relative to the 40.1 percent for the previous month, the Ghana Statistical Service (GSS) announced Wednesday.
“Inflation for food and non-alcoholic beverages declined further to 49.4 percent from 51.9 percent in August,” said Samuel Annim, the government statistician at the GSS, during the regular monthly briefing.
“Compared with August, non-food inflation declined 1.6 percentage points to 29.3 percent from 30.9 percent the previous month,” Annim stated.
Meanwhile, inflation for locally produced and imported items stood at 37.3 percent and 39.9 percent, respectively.
Despite the decline, Ghana’s inflation rate is still far above the central bank’s medium-term target band of 6 percent to 10 percent.
Ghana commenced the implementation of economic reforms in May, backed by a loan of 3.0 billion U.S. dollars from the International Monetary Fund, seeking to cure its crippling economic crisis not witnessed in decades.