THE Ghana Statistical Service (GSS) announced on Wednesday that the country’s inflation rate dipped to 25 percent in April, marking a 0.8 percentage point decrease from the 25.8 percent recorded the previous month.
Samuel Annim, the government statistician at the GSS, attributed the decline in inflation to a reduction in food prices during the month under review. ‘The slower rate of inflation in April was due to a decline in food inflation during the month under review,’ Annim stated during the regular monthly briefing.
Comparing March and April, Annim highlighted that food inflation saw a notable decrease, dropping by 2.8 percentage points to 26.8 percent in April. However, non-food inflation witnessed a slight increase, rising by 0.9 percentage points to 23.5 percent in the same period.
Additionally, Annim provided insights into inflation rates for locally produced and imported items, noting that inflation for locally produced items stood at 25.7 percent, while imported items registered an inflation rate of 23.5 percent.
Ghana has grappled with economic challenges in recent years, characterised by high inflation and unemployment rates. Last year, the country secured a $3bn loan from the IMF in a bid to revive its economy.
The latest update from the GSS underscores ongoing efforts to monitor and manage economic indicators, providing valuable insights into Ghana’s economic landscape and informing policymaking decisions aimed at fostering stability and growth.
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