Inflation falls to 41.2% in April 2023

Inflation fell for the 4th month running to 41.2% in April 2023, from 45% in March 2023.

According to the Ghana Statistical Service, both food inflation and non-food inflation dipped last month.

This could compel the Bank of Ghana to keep its policy rate unchanged at 29.5%. However, the cost of credit will remain expensive as average lending rates hover around 35%.

According to the figures, food inflation went down to 48.7%, from 50.2%, whilst non-food-inflation declined to 35.4%.

Also, inflation for locally produced items stood at 38.2%, whereas inflation for imported items at 43.1%.

More soon…..

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