Ghana inflation edges up to 42.5% in annual terms in June
6:23 am Wednesday, July 12th, 2023
ACCRA (Reuters) – Ghana’s consumer inflation edged up again to 42.5% in annual terms in June from 42.2% in May, driven partly by higher food inflation, data from the statistics service showed on Wednesday.
The West African nation is trying to emerge from its worst economic crisis in a generation and is restructuring its debt.
Inflation accelerated slightly in May from 41.2% in April, after declining for four consecutive months from a more than two-decade high of 54.1% in December.
The International Monetary Fund (IMF) has approved a $3 billion support package for Ghana and said last month that its economy was showing signs of stabilisation.
Authorities asked the IMF for help in July last year after rampant inflation spurred street protests.
(Reporting by Christian Akorlie and Maxwell Akalaare Adombila; Writing by Anait Miridzhanian; Editing by Alexander Winning)
