Story: Business Desk

Ghana’s inflation rate fell to 38.1% in September 2023, from 40.1% in August, according to the Ghana Statistical Service (GSS).

The GSS said the decline in inflation was due to a decrease in the prices of food and non-food items. Food inflation fell from 51.9% in August to 49.4% in September, while non-food inflation fell from 30.9% to 29.3%.

The Government Statistician, Prof. Samuel Kobina Annim, said the decline in inflation was a positive development.

“The decline in inflation is good news for consumers and businesses in Ghana”, he said.

It means that the prices of goods and services are rising at a slower pace, which will help to improve purchasing power and boost economic activity.