Accra — Ghana’s consumer inflation eased for the 15th straight month in March, slowing to 3.2% year-on-year from 3.3% in February, the statistics service said on Wednesday.
The gold-, oil- and cocoa-producing nation in West Africa is emerging from its most severe economic crisis in decades.
“This is the lowest inflation we have recorded since the rebasing of the CPI (Consumer Price Index) in 2021 and… it shows a steady and sustained movement towards stability,” government statistician Alhassan Iddrisu told a press conference.
Iddrisu said food prices continued to drive the decline in inflation but that prices for non-food items still saw small increases.
Petrol prices had increased 3.1% month-on-month by early March, reflecting the impact of the Iran conflict on global energy prices, and more effects of the conflict will be reflected in the next release, he added.
African countries that import most of their petroleum products have imposed sharp fuel price increases that could spur inflation across the continent.
*Emmanuel Bruce & Christian Akorlie; Anait Miridzhanian; editing: Bate Felix, Alexander Winning & Toby Chopra – Reuters
