By Delali Adogla-Bessa Samuel Obour
The inflation rate has dropped to 13.7% year-on-year, its lowest rate since December 2021.
Food inflation notably dropped to 16.3% from 22.8% in May, according to figures from the Ghana Statistical Service.
Reuters reported that the Government statistician, Alhassan Iddrisu, told the press that the causes of inflation were cooling.
Iddrisu said a sustained downward shift over the last six months showed a consistent slowdown in prices.
He also singled out the reduction of food inflation as a good sign.
“The disinflation process we are observing means some breathing room for households, a more predictable environment for businesses, and for policymakers, a powerful signal that recent fiscal and monetary efforts may be taking hold.”
“Given how heavily food prices weigh on the average Ghanaian in terms of households’ budget, this single trend can have a meaningful impact on people’s lived experiences.”
The government is targeting to end the year at 11.9% inflation.
Source: YEN.com.gh