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Ghana’s Inflation Rate Slows to 25% in April

The Ghana Statistical Service (GSS) announced on Wednesday that the year-on-year inflation in the West African country has dropped to 25% in April, which is 0.8 percentage points lower than the 25.8% recorded in the previous month.

This indicates that the rate of inflation for April in the country slowed by 0.8%.

A market woman exchange Ghana cedi with a customer in a market in Accra, Ghana, on November 3, 2021.

According to Ghana News Agency, Professor Samuel Anim, the Government statistician at GSS explained the reason behind the numbers pinpointing sectors of the Ghanaian economy that contributed to the slower rate of inflation in the country.

“The slower rate of inflation in April was due to a decline in food inflation during the month under review,” Anim said

“We saw a contrast between food and non-food while we saw a decrease in food inflation from 29.6 percent to 26.8 percent in April 2024 a reverse was the case for non-food inflation as it increased to 23.5 percent from 22.6 percent in March 2024”. Anim added

According to Prof Anim, food inflation was responsible for the overall drop in the rate of inflation as it recorded a rate of 26.8% from 29.6% the lowest it has been in 13 months.

On the other hand, Non-Food inflation shot up to 23.5% in April 2024, from 22.6% in March 2024.

This inherently means that 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 according to data from the GSS.

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