Inflation in Ghana, West Africa’s second-biggest economy, accelerated for a sixth month in July as the local currency weakened against the dollar, driving up costs in the import-dependent country.
The rate rose 11.8 percent, compared with a revised June figure of 11.6 percent, Philomena Nyarko, an official with Ghana Statistical Service, told reporters in capital, Accra. On a monthly basis, prices increased 1.3 percent, she said.
The currency of the world’s second-biggest cocoa producer slumped 1.7 percent against the dollar in July, the worst among 24 African currencies tracked by Bloomberg after the Kenyan shilling.
Read more at businessweek.com
