Ghana inflation slows for second month in February

Reuters | Updated: 15-03-2023 16:00 IST | Created: 15-03-2023 15:42 IST
Ghana inflation slows for second month in February
Representative Image Image Credit: ANI
  • Country:
  • Ghana

Ghana's consumer inflation slowed to 52.8% year on year in February from 53.6% in January, the statistics service said on Wednesday.

It was the second consecutive month that inflation has slowed, since reaching a more than two-decade high of 54.1% in December. Ghana is facing its worst economic crisis in a generation and is in the process of restructuring its debt in order to secure a $3 billion loan from the International Monetary Fund.

The central bank has hiked its main lending rate by 13.5 percentage points in the past year in an effort to contain price rises.

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