West Africa: Ghana Inflation Falls to 18.4 Percent As Soaring Cedi Eases Import Costs

• Ghana’s annual inflation rate dropped to 18.4% in May, its lowest level in over three years
• Inflation has now slowed for five consecutive months, down from 21.2% in April
• The slowdown was driven by a strong rally in the cedi and lower global oil prices

Ghana’s annual inflation rate dropped to 18.4% in May, its lowest level in over three years, driven by a strong rally in the cedi and lower global oil prices, the Ghana Statistical Service said Wednesday. Inflation has now slowed for five…