ACCRA (Multibagger) - Ghana's consumer inflation slowed for a fourth consecutive month in July, to 20.9% year on year from 22.8% in June, the statistics service said on Wednesday.
Government statistician Samuel Kobina Annim told a news conference that the latest decline was the result of a fall in both food and non-food inflation.
The cocoa-, gold- and oil-producing West African country is battling to emerge from an economic crisis.
It cleared a key hurdle to restructure its international bonds in July, as its official creditors confirmed the proposed debt rework was not overly favourable to bondholders.
Analysis:
Inflation slowing down in Ghana for the fourth consecutive month is a positive sign for the economy. It indicates that prices are rising at a slower pace, which could lead to increased consumer purchasing power. This could potentially stimulate economic growth and investment opportunities in the country. Ghana's efforts to restructure its international bonds also show a commitment to improving its financial stability and credibility with creditors. Investors may see this as a positive development and consider Ghana as a potentially attractive investment destination. Overall, the declining inflation rate and debt restructuring efforts could have a positive impact on Ghana's economy and financial markets.