Ghana’s inflation rate saw a marginal decrease from 25.8% in March of this year to 25.0% in April.
According to the Ghana Statistical Service, this means that the overall prices of goods and services increased by 25.0% between April 2023 and April 2024.
This also indicates a decrease of 0.8 percentage points in April compared to the figure recorded in March 2024.
On a month-to-month basis, the GSS reported that prices of goods and services increased by 1.8% between March and April 2024.
This represents 0.1 percentage points increase in April compared to the figure recorded in March.
It is still uncertain whether the Central Bank will need to maintain or raise its monetary policy rate, which currently remains unchanged at 29% after its last meeting in March 2024.
Additionally, Bloomberg’s estimates show that the Ghana Cedi has depreciated by 13.7% against the US dollar so far this year.
MA/NOQ
