Ghana’s inflation slows for 15th straight month in March
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Ghana’s consumer inflation slowed for the 15th straight month in March, easing to 3.2% year on year from 3.3% in February, the statistics service said on Wednesday. The gold-, oil- and cocoa-producing West African economy is still working its way out of its most severe crisis in decades.
Government statistician Alhassan Iddrisu said the March reading was the lowest recorded since the consumer price index was rebased in 2021. He said the trend showed a steady and sustained move toward stability.
Iddrisu said food prices continued to drive the decline in inflation, while non-food items still recorded small increases. He added that petrol prices had risen 3.1% month on month by early March, reflecting the impact of the Iran conflict on global energy prices.
He said more effects from the conflict would likely show up in the next inflation release. The Reuters report also noted that African countries importing most of their petroleum products have raised fuel prices sharply, which could feed broader inflation across the continent.
