Ghana’s annual consumer price inflation fell to 12.1 percent in June from 12.6 percent the previous month, driven lower by falling food and petroleum prices, the statistics office said on Wednesday.

The major commodity exporter is aiming to narrow inflation to 11.2 percent by the end of the year as part of a drive to restore macroeconomic stability under a three-year assistance programme with the International Monetary Fund.

“Food and non-alcoholic beverages, in addition to petroleum prices recorded lower prices in June, compared to the same period (June) last year,” acting government statistician, Mr. Baah Wadieh said in a conference on 12th July, 2017.

“Food inflation dipped to 6.2 percent as compared to 6.3 percent in May while non-food inflation dropped to 15.1 percent in June from 15.8 percent, and the June figure was the lowest since December 2013,” Mr. Wadieh added.

President Nana Akufo-Addo’s government when assumed office in January, said in April, it was committed to reducing inflation, public debt and the budget deficit.

Ghana was one of Africa’s strongest economies until 2014 when it was hit by a slump in commodity prices and a fiscal crisis.

By:Sammy Adjei/