Ghana’s inflation is expected to decrease for the fourth consecutive month in July

Ghana’s consumer inflation experienced a fourth consecutive month of decline in July, falling to 20.9% year-on-year (GHCPIY=ECI) from 22.8% in June, according to the statistics service.

According to government statistician Samuel Kobina Annim, the most recent decline was the consequence of a decrease in both food and non-food inflation, as he stated during a news conference.

Western Africa’s cocoa, gold, and oil-producing nation is currently grappling with an economic crisis.

In July, it overcome a critical obstacle in its efforts to restructure its international bonds when its official creditors verified that the proposed debt restructuring was not excessively advantageous to bondholders.