Ghana’s Annual Inflation Rate Increased to 42.2% in May.

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Ghana’s consumer inflation increased marginally from April to May, rising from 41.2% to 42.2% year over year, according to the statistics department on Wednesday.

The country of West Africa is restructuring its debt as it battles the greatest economic crisis in a generation.

After widespread inflation sparked street protests in July of last year, authorities resorted to the International Monetary Fund for assistance.

Inflation peaked in December at 54.1%, a level not seen in more than two decades, but it then fell for four straight months until April.

In May, the central bank held the main lending rate steady, citing the relative stability of currency rates and tight monetary policy as factors contributing to falling inflation.

Reuters.

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