Ghana consumer inflation falls to 18.4 percent in June

Ghana’s annual consumer price inflation fell to 18.4 percent in June from 18.9 percent in May, driven by stability in food and fuel prices, the statistics office said on Wednesday.

The local cedi currency has also been fairly stable, contributing to the slight easing of consumer prices in June, government statistician Philomena Nyarko said.

“There has been a general price stability last month, supported by stability of the cedi which also led to lower prices for imported items,” Nyarko told a news conference in the capital Accra.

He said the year-on-year non-food inflation rate dipped to 24.1 percent in June compared to 25.0 percent the previous month while food inflation edged up to 8.6 percent from 8.5 percent.

The West African cocoa, gold and oil-producing nation is implementing a three-year aid programme with the International Monetary Fund to remedy fiscal problems including inflation persistently above government targets.