Ghana’s annual inflation rate fell for the fourth month to 41.2% in April 2023, down from 45% in the prior month and a more than two-decade high of 54.1% in December.

It marks the lowest reading in six months amid the relative stability in the cedi since January, due in part to expectations that a final deal with the International Monetary Fund (IMF) or a $3 billion bailout is imminent.

Food inflation eased to 48.7% in April from 50.8% in March and non-food price growth decelerated to 35.4% from 40.6% in the prior month.

On a monthly basis, consumer prices surged by 2.4% in April, the most in four months, after a 1.2% fall in the prior month.

Credit: trading economics