Ghana’s consumer inflation rose in September after slowing for five consecutive months, driven by an increase in food prices, the Ghana Statistics Service (GSS) said on 2nd October.
Inflation quickened to 21.5% year-on-year in September from 20.4% in August, the GSS said. Government Statistician Prof. Samuel Kobina Annim told a news conference that the increase was due to a 3 percentage points jump in food inflation.
Last week, in response to improving economic indicators, including inflation, Ghana’s central bank reduced its main interest rate by 200 basis points to 27%, marking its first rate cut since January.
The cocoa-, gold- and oil-producing West African country is battling to emerge from its worst economic crisis in a generation.
Source: Reuters
