Ghana’s inflation slowed to its lowest level in months in July, offering fresh signs that the country’s economic recovery is gathering pace after its worst financial crisis in decades.
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Data released on Thursday by the Ghana Statistical Service showed annual consumer inflation eased to 4.6 percent in July from 5.3 percent in June. It was the first monthly decline since March and a sharp improvement from 12.1 percent recorded in the same month last year.
Alhassan Iddrisu, Government Statistician, said lower food prices were the main reason inflation eased during the month.
“In the space of 12 months, the speed at which prices are rising has fallen by more than half,” Iddrisu told reporters.
