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Ghana’s marking its lowest level in eight months. The decline was driven in part by a stronger Ghanaian cedi, which helped reduce import-related price pressures.
Both food and non-food inflation saw a slowdown. Food inflation dropped to 25.0% from 26.5% in March, while non-food inflation decreased to 17.9% from 18.7%. On a monthly basis, consumer prices fell by 0.8%.
Despite these encouraging trends, economist Dr. Samuel Worlanyo Mensah cautioned that the recent appreciation of the cedi and declining fuel prices may not translate into lower prices for everyday goods.
He attributed this to Ghana’s largely manual approach to economic management, which he said limits the country’s ability to respond efficiently to shifts in key macroeconomic indicators.
“Until we automate economic analysis and decision-making processes, improvements such as a stronger currency or falling fuel prices won’t necessarily impact the daily lives of ordinary Ghanaians,” Dr. Mensah told the Ghana News Agency.
He added that the structure of Ghana’s economy does not currently allow for automatic or seamless price adjustments. “Although the stronger cedi and reduced fuel costs are positive signs, they alone cannot guarantee a lower cost of living,” he said. “Our economy is still dependent on manual processes—particularly in areas like transportation pricing—which slows down the transmission of these gains to consumers.”
Source:Omanghana.com
