Ghana’s consumer inflation eases in June

Ghana’s consumer inflation slowed for the third consecutive month in June, dropping to 22.8 per cent year-on-year (YoY) from 23.1 per cent in May, its statistical service said on Wednesday.

Government statistician Samuel Kobina Annim announced at a news conference that the ease in inflation was primarily due to a decline in non-food inflation, which fell to 21.6 per cent, offsetting an increase in food inflation.

The West African nation, known for its production of cocoa, gold, and oil, is striving to recover from an economic crisis. Last week, Ghana achieved a significant milestone in restructuring its international bonds, as official creditors confirmed that the proposed debt rework was not overly favorable to bondholders.

Attribution: Reuters citing statistics service