Ghana says it has recorded a drop in inflation figures for the sixth consecutive month, easing substantial pressure on the nation’s financial systems.
According to Government Statistician, Samuel Kobina Annim, the figures dropped from 45 per cent to 41.2 per cent.
The drop was aided by the stability of the Cedi since January after a volatile year in 2022.
The currency has steadied on expectations that a final deal with the International Monetary Fund for a $3 billion bailout is imminent for the debt-distressed nation.
Food inflation eased to 48.7 per cent last month from 50.8% in March and non-food price growth decelerated to 35.4% from 40.6%.
Prices rose 2.4% in the month. Non-alcoholic beverages and food, including local produce, were the main drivers of April’s rate, Annim said.
Meanwhile, prices for housing, water, energy and household items in the non-food category reduced on yearly basis.
Bank of Ghana Governor Ernest Addison said last week that he is optimistic inflation will continue to slow in coming months, based on measures implemented by the monetary policy committee.
