\n
\n
<\/p>\n
\n Ghana\u2019s inflation drop is a result of a fall in both food and non-food inflation, Ghanaian government statistician Samuel Kobina Annim revealed to members of the press on Wednesday.\n <\/p>\n<\/p><\/div>\n
\n
<\/p>\n
\n The inflation rate fell to a 28-month low in July, allowing for more monetary policy easing this year.\n <\/p>\n<\/p><\/div>\n
\n
<\/p>\n
\n After an unexpected interest rate drop at the start of the year, Ghana’s central bank decided on maintaining the benchmark rate of 29%, as the country’s weak currency obscured the potential of rising consumer prices, as reported by Bloomberg.\n <\/p>\n<\/p><\/div>\n
\n\n Ghana’s currency performance
<\/p>\n
\n The Central Bank of Ghana plans to render its next interest rate decision on September 30. Blomberg also stated that the median inflation rate from a study of four economists is 21.5%.\n <\/p>\n<\/p><\/div>\n
<\/p>\n
\n Ghana’s currency performance
\n <\/h3>\n<\/p>\n\n <\/p>\n
\n Another report by the Ghanaian newspaper, MyJoyOnline, revealed that the Ghanaian Cedi has depreciated by around 19.6% against the US dollar in the interbank currency market as of July 2024, according to the Bank of Ghana.\n <\/p>\n<\/p><\/div>\n
\n <\/p>\n
\n This is less than the approximately 21% loss in value of the US dollar on the retail market. The country’s central bank via its July 2024 Summary of Financial and Economic Data, showed that the cedi’s value fell 7.7% against the dollar in March 2024 ,10.5% against the dollar in April.\n <\/p>\n<\/p><\/div>\n
\n <\/p>\n
\n 15.9% in June and 18.6% in July 2024,.\n <\/p>\n<\/p><\/div>\n
\n <\/p>\n
\n The average retail price for one dollar is GH\u00a215.60, whereas the Bank of Ghana quotes it at GH\u00a214.78.\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
For the fourth month in a row, Ghana\u2019s inflation has slowed down. Inflation rate for the West African country for July, declined to 20.9% year on year from 22.8% in June. Ghana\u2019s inflation drop is a result of a fall in both food and non-food inflation, Ghanaian government statistician Samuel Kobina Annim revealed to members […]<\/p>\n","protected":false},"author":1,"featured_media":208699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-208698","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n
Ghana\u2019s inflation drops to a 28-month low - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/08\/15\/ghanas-inflation-drops-to-a-28-month-low\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s inflation drops to a 28-month low - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"For the fourth month in a row, Ghana\u2019s inflation has slowed down. Inflation rate for the West African country for July, declined to 20.9% year on year from 22.8% in June. 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<\/p>\n
\n Another report by the Ghanaian newspaper, MyJoyOnline, revealed that the Ghanaian Cedi has depreciated by around 19.6% against the US dollar in the interbank currency market as of July 2024, according to the Bank of Ghana.\n <\/p>\n<\/p><\/div>\n
\n
<\/p>\n
\n This is less than the approximately 21% loss in value of the US dollar on the retail market. The country’s central bank via its July 2024 Summary of Financial and Economic Data, showed that the cedi’s value fell 7.7% against the dollar in March 2024 ,10.5% against the dollar in April.\n <\/p>\n<\/p><\/div>\n
\n
<\/p>\n
\n 15.9% in June and 18.6% in July 2024,.\n <\/p>\n<\/p><\/div>\n
\nGhana\u2019s inflation drops to a 28-month low - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/08\/15\/ghanas-inflation-drops-to-a-28-month-low\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s inflation drops to a 28-month low - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"For the fourth month in a row, Ghana\u2019s inflation has slowed down. Inflation rate for the West African country for July, declined to 20.9% year on year from 22.8% in June. 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<\/p>\n
\n The average retail price for one dollar is GH\u00a215.60, whereas the Bank of Ghana quotes it at GH\u00a214.78.\n <\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"
For the fourth month in a row, Ghana\u2019s inflation has slowed down. Inflation rate for the West African country for July, declined to 20.9% year on year from 22.8% in June. Ghana\u2019s inflation drop is a result of a fall in both food and non-food inflation, Ghanaian government statistician Samuel Kobina Annim revealed to members […]<\/p>\n","protected":false},"author":1,"featured_media":208699,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-208698","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\n