President Nana Akufo-Addo wants to slow inflation to 11.2 per cent by the end of the year as part of its drive to restore macroeconomic stability.
The government of President Nana Akufo-Addo wants to slow inflation to 11.2 per cent by the end of the year as part of its drive to restore macroeconomic stability under a three-year aid deal with the International Monetary Fund (IMF).
In a positive for that target, food inflation fell to 6.7 per cent in April from 7.3 per cent a month earlier.
Non-food inflation, however, accelerated to 16.3 per cent from 15.6.
“The marginal increase in the index was mainly due to a rise in transport fares which went up by 9.6 per cent last month,” deputy government statistician Baah Wadieh told a news conference.
Ghana, which exports cocoa, gold and oil, said in April it was committed to reducing inflation, public debt and the budget deficit.
It was one of Africa’s best-performing economies until 2014, when it was hit by a slump in commodity prices.