Inflation Under Akufo-Addo’s Administration Is Lowest Rate In 27 Years - Ofori Atta

Finance Minister, Ken Ofori-Atta has said for the last 18 months under President Akufo-Addo’s administration Inflation has been in single-digit and is at its lowest rate in 27 years, describing it as real change.

Inflation has declined from 15.4% in 2016 to 7.6% (new series) as at September 2019.

Presenting 2020 Budget Statement and Economic Policy of President Nana Akufo-Addo’s government, Mr Ofori-Atta said in line with the decline in inflation, interest rates have also been on a downward trend, with average bank lending rates falling significantly from 31.7% in 2016 to 24% by September 2019. 

Meanwhile, The annual inflation rate in Ghana increased to 7.7 per cent in October 2019 from 7.6 per cent in the previous month.


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