Government statistician Alhassan Iddrisu said that falling food prices have played a central role in the decline. Speaking at a press conference, he said Ghana’s disinflation process is progressing steadily, with price pressures that previously drove double-digit inflation now weakening.
Ghana is gradually emerging from one of its most severe economic crises in decades.
The country is a major producer of gold, oil and cocoa, and has faced rising costs, currency pressures and reduced investor confidence in recent years.
The Bank of Ghana currently targets an inflation rate of 8 percent, with a margin of tolerance of two percentage points on either side.
In October, the International Monetary Fund announced that it had reached a staff-level agreement with Ghanaian authorities on the fifth review of its financial support programme, which has been central to efforts to stabilise public finances and restore growth.