Ghana’s Inflation Rate Drops to 11.6% in October

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Ghana’s annual consumer price inflation fell to 11.6% in October from 12.2% the previous month on the back of lower transport and health costs, the country’s Statistical Service said on Wednesday.

The West African nation is currently on a $918 million credit programme with the International Monetary Fund that aims to restore fiscal balance and narrow inflation to 8% plus or minus 2 percentage points in 2018.

“There has been a general reduction of costs across the non-food subsector, but the key items affected most were the transport and health sectors,” Acting Government Statistician Baah Wadieh told reporters.

Non-food inflation also eased to 13.2% in October compared to 14.1 percent the month before while food inflation edged up to 8.2% from 8.1% in the previous month.

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