Economy

Ghana consumer inflation falls to 18.7 pct in April

Date: May 11, 2016

Ghana's annual consumer price inflation fell to 18.7 percent in April from 19.2 percent in March as the impact of higher utility and housing prices diminished, the statistics office said on Wednesday.

Inflation that has stayed well above government targets for years is one reason why the West African country is in year two of a three-year aid programme with the International Monetary Fund to remedy fiscal problems that have slowed the economy.

The government target for inflation in 2016 is 10.1 percent.

"There's been a slight drop in the non-food basket, driven by housing, water, electricity, gas and other fuels," deputy government statistician Baah Wadieh told a news conference in Accra.

Prices for that component of the basket dipped to 35.3percent in April from 39.4 pct the previous month, Wadieh said,adding that the change was primarily due to base effect.

Overall, non-food inflation dipped to 24.8 percent in April from 25.7 percent in the previous month while food inflation was8.4 percent compared to 8.3 in March. The monthly change in overall inflation was 1.4 percent compared to 1.7 percent in March.

--reuters--

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