In a significant move to combat surging inflation, Ghana’s monetary policy committee has made a decisive decision, voting to increase the country’s benchmark interest rate to a substantial 30%.
After reaching a more than two-decade high of 54.1% in December, inflation had gradually declined for four consecutive months until April. However, annual inflation accelerated to 42.5% in June, up from 42.2% in May, according to Government Statistician Samuel Kobina Annim.
The Ghana Statistical Service (GSS) has announced that the country’s Gross Domestic Product (GDP) increased in the first quarter of 2023.
Ghana’s inflation rate dropped sharply from 52.8 per cent in February 2023 to 45 per cent in March this year, according to the Ghana Statistical Service (GSS),
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