Ghana's Inflation Rises

ACCRA (Reuters) – Ghana's consumer inflation rose in September after slowing for five consecutive months, driven by an increase in food prices, the statistics service said on Wednesday.

Inflation quickened to 21.5% year-on-year in September from 20.4% in August, the statistics service reported.

Ghana's government statistician Samuel Kobina Annim stated at a news conference that the increase was due to a 3 percentage point jump in food inflation.

> "This five-month successive decrease in the rate of inflation has been reversed in the month of September with food recording a higher rate," Annim said.

Last week, in response to improving economic indicators, including inflation, Ghana's central bank reduced its main interest rate by 200 basis points to 27%, marking its first rate cut since January.

The cocoa-, gold-, and oil-producing West African country is attempting to emerge from its worst economic crisis in a generation.

Reporting Christian Akorlie; Writing by Anait Miridzhanian; Editing by Bate Felix