Minister of Finance, Dr. Cassiel Ato Forson, has projected a drop in Ghana’s inflation rate to 8% plus or minus (±) 2% within the year, down from the current 23.1%, indicating a 13% to 15% reduction in headline inflation.
He made this known during an X Space discussion on Sunday, March 9, 2024, emphasising the government’s commitment to stabilising the economy and addressing the ongoing cost-of-living crisis.
“There is a significant cost-of-living crisis, and it is getting worse. We need to take steps to reverse this trend. Some of the measures include stabilising and consolidating the economy through fiscal discipline to ensure economic stability. Our goal is to bring inflation down to 8% plus or minus ( ±) 2% by the end of the year,” he said.
Inflation rate for February 2025 has declined slightly to 23.1% from the 23.5% recorded in January, largely driven mainly by food inflation.
Government Statistician, Prof. Samuel Kobina Annim, announcing the new inflation rate, attributed the decline to a consistent drop in food inflation over the past four months.
Despite the decline, he pointed out that the February annual inflation rate was still the third-highest recorded in the last 10 months.
Source: www.ghanaweb.com
