In June, consumer inflation in Ghana decreased to 22.8% annually

The statistics office said on Wednesday that Ghana’s consumer inflation (GHCPIY=ECI), opens new tab, decreased for a third consecutive month to 22.8% year over year in June from 23.1% in May.

The June inflation, according to government statistician Samuel Kobina Annim, was mostly caused by a decrease in non-food inflation, which fell to 21.6%, which was sufficient to offset a rise in food inflation.

The nation that produces oil, gold, and cocoa in West Africa is struggling to recover from a financial catastrophe.

Its official creditors certified last week that the proposed debt rework was not unduly beneficial to investors, clearing a major roadblock to the restructuring of its foreign notes.