2023-06-15 19:09:25
French.china.org.cn | Updated on 16-06-2023
Ghana’s inflation rate increased by 1 percentage point to 42.2% year-on-year in May, following falling to 41.2% in April, according to the Ghana Statistical Service (GSS).
“Ghana’s food inflation was 51.8% in May from 48.7% a month earlier, while non-food inflation fell to 34.6% from 35.4% in April,” said Samuel Annim, a government statistician and member of the GSS, during a press briefing on Wednesday.
Inflation for locally produced items stood at 36.2 percent, compared to 43.8 percent for imported goods, he noted.
Ghana’s inflation rate has fallen four times in a row from January to April, following hitting a record high of 54.1% in December 2022. The central bank kept its key interest rate at 29.5% during of its last meeting in May, in the hope of continuing to bring down inflation.
The West African country recently restructured its domestic and external debt due to a crippling economic crisis, which forced the government to borrow US$3 billion from the International Monetary Fund.
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