Ghana is being hit by galloping inflation, becoming the highest in the country since 2013, figures have shown.
According to the government, between February and March the rate of inflation skyrocketed to 19.4 percent.
This over 15 percent rise in inflation represents more than the Ghana Central Bank’s earlier projection of 6 percent to 10 percent.
As a result food prices have taken an unprecedented turn up, prompting the government of Nana Akufo-Addo to embark on a series of economic measures to stabilise the local currency, the cedi and address the budget deficit.
These measures include cutting down on public spending and raising interest rates in March.
WN/as/APA