Ghana’s inflation rate is currently at 15.7 percent under President Nana Addo Dankwa Akufo-administration, Addo’s which is the highest it has been since 2016.
The inflation rate, which is defined as the pace at which the cost of goods and services rises over time, resulting in a decrease in the purchasing power of money, has recently risen over the world.
The American Dollar is now trading at GH7.09 per dollar.
Prices of goods such as fuel and cement have risen, with a bag of cement selling for between 55.00 and 57.00 within Accra and 56.00 to 60.00 outside the capital.
From 2016 to 2022, the graph below illustrates the years and inflation rates.