On Wednesday 28 October, the national statistics office said Ghana’s annual ProducerPrice Inflation (PPI) rate for September was 46.7 percent. This rate means that, between September 2013 and September 2014, the PPI increased by 46.7 percent, representing a 1.6% point decrease in producer inflation relative to the rate recorded in August 2014 (48.3%). The month-on-month change in producer price index between August 2014 and September 2014 was 1.2%.
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Producer Price Inflation Drops In September
The Ghana Statistical Service has announced a drop in inflation for the month of September.
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The figure is an indication of the economic challenges facing the West African country, whose gross domestic product has grown swiftly in recent years.
Ghana’s exports of cocoa, gold and oil made it one of Africa’s fastest growing economies but its expansion is undermined by escalating inflation, a stubborn budget deficit, a currency that fallen sharply this year and low foreign exchange reserves.
President John Dramani Mahama has assured the country hoped to start a three-year programme of financial assistance with International Monetary Fund (IMF) in January
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