Minister of Information, Kojo Oppong Nkrumah, has disclosed that President Nana Addo Dankwa Akufo-Addo has tasked the Ministry of Food and Agriculture to implement measures to keep food prices low.
According to him, the cost of transportation of food to various markets would also be at a lower price to tame the soaring price increment in food consumers face.
In an interview with Daily Graphic, Oppong Nkrumah said the move was to revise the inflation rate downwards.
This would also help boost the local economy and make it much stronger.
Ghana’s inflation for September 2023 fell to 38.1% from the 40.1% recorded in August 2023.
This means that the general price level in August 2023 was higher, leading to an increase in the cost of living for Ghanaians.
But figures from the Ghana Statistical Service showed that both food and non-food inflation dropped in September.
Whilst food inflation declined to 49.4% from the 51.9% recorded in August 2023, non-food inflation also decreased to 29.3% from the 30.9% recorded in August 2023.
Inflation for locally produced items was estimated at a rate of 37.3% while that of imported products was 39.9%.
SA/OGB
Source: www.ghanaweb.com