ACCRA, July 10 (Xinhua) — Ghana’s inflation rate dropped from 23.1 percent in May to 22.8 percent in June, the Ghana Statistical Service (GSS) said Wednesday.
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 June. “Compared to May, non-food inflation declined by two percentage points to 21.6 percent in June, while food inflation increased by 1.4 percentage points to 24 percent in June,” Annim said.
Meanwhile, inflation for locally produced and imported items stood at 25 percent and 17.5 percent, respectively, the statistician added.
The West African nation, known for its gold, cocoa and crude oil exports, is implementing economic reforms backed by a loan of 3 billion U.S. dollars from the International Monetary Fund to revive the economy. These reforms aim to address the impact of high inflation, a volatile exchange rate regime and debt overhangs experienced in recent years.
