Ghana: Inflation declines to over two-year low in June
Inflation fell to 22.8% in June from May’s 23.2%. June’s figure marked the weakest inflation rate since March 2022 but still overshot market expectations slightly. Looking at the details of the release, the moderation was driven by slower increases in prices for transport and clothing and footwear. Similarly, prices for housing and utilities rose at a slower pace.
Accordingly, the trend pointed down, with annual average inflation coming in at 28.4% in June (May: 30.0%).
Finally, consumer prices increased a seasonally adjusted 2.89% in June over the previous month, moderating from May’s 3.15% rise.