Ghana's inflation rate hit 25.8% in March due to currency depreciation and import price increases.
Ghana's inflation rate reached a four-month high of 25.8% in March due to a decline in the country's currency, leading to increased prices of imports like fuel and food. The cedi has depreciated around 11% this year against the dollar, making it the fourth worst-performing currency globally. The slumping currency, a resilient American economy, and adverse weather conditions affecting cocoa production are contributing to the rising inflation rate.
April 10, 2024
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