Ghana Statistical Service (GSS) has stated that the country’s inflation rate declined to 38.1% in September 2023 from 40.1% in August.
According to the GSS, the fall in inflation is related to lower food and non-food prices. In September, food inflation declined from 51.9% in August to 49.4%, while non-food inflation fell from 30.9% to 29.3%.
Prof. Samuel Kobina Annim, the Government Statistician, described the drop in inflation as a welcome trend.
In Ghana, the fall in inflation is excellent news for consumers and companies.
It suggests that prices for goods and services are growing more slowly, which will assist in strengthening buying power and promote economic activity.