Inflation Drops to 38.1%

In September 2023, Ghana’s inflation rate dropped to 38.1%, down from 40.1% in August, as reported by the Ghana Statistical Service (GSS). The GSS attributed this decline in inflation to a reduction in the prices of both food and non-food items. Food inflation decreased from 51.9% in August to 49.4% in September, while non-food inflation declined from 30.9% to 29.3%.

The Government Statistician, Prof. Samuel Kobina Annim, expressed that this decrease in inflation is a positive development. It signifies that the prices of goods and services are increasing at a slower rate. This, in turn, is expected to enhance purchasing power and stimulate economic activity, which is beneficial for the overall economy.

Source: Omanghana.com