In September 2023, Ghana’s inflation rate dropped to 38.1% from 40.1% in August, according to the Ghana Statistical Service (GSS).
The decrease in inflation was due to the reduced prices of food and non-food items.
Food inflation went down from 51.9% in August to 49.4% in September, while non-food inflation declined from 30.9% to 29.3%.
Prof. Samuel Kobina Annim, the Government Statistician, remarked that the decline in inflation was a positive development.
This is excellent news for consumers and businesses in Ghana because it means that the prices of goods and services are rising at a slower pace.
This would boost economic activity and improve purchasing power.
