ACCRA, Oct 1 (The African Portal) – Ghana’s inflation rate has dropped below 10% for the first time since 2021, offering relief to households and businesses after years of rising prices.
The annual rate slowed to 9.4% in September, down from 11.5% in August, according to the Ghana Statistical Service.
Officials said the fall was largely driven by food prices, which eased to 11% from 14.8% the previous month. Non-food inflation also edged down to 8.2% from 8.7%.
The drop marks the ninth consecutive month of declines and means inflation has already beaten the government’s full-year target. Economists say the trend strengthens prospects for currency stability, lower borrowing costs and improved consumer confidence in the coming months.
Ghana last recorded single-digit inflation in August 2021.
