Ghana producer price inflation falls to 46.7 pct yr/yr: Stats Office

 

Ghana's annual producer price inflation fell to 46.7 percent in September, down from 48.3 percent year-on-year in August, the national statistics office said on Wednesday.

The figure is an indication of the economic challenges facing the West African country, whose gross domestic product has grown swiftly in recent years through its exports of gold, cocoa and oil.

Chief Government statistician Anthony Amuzu said that slightly lower figures for the manufacture of food, beverages and furniture helped to lower the overall figure.

Ghana is aiming to seal a deal in November with the International Monetary Fund to stabilize its macro-economy, which has this year seen rising inflation, a falling currency and a double-digit budget deficit.

Standard & Poor's ratings agency downgraded Ghana's rating on Friday in the face of those problems.