Ghana reports lower inflation - but it's still high

Ghana's annual inflation rate has seen a small decline of two percentage points and in the 12 months to September prices rose by just over 38%.

The country's statistics body on Wednesday said food prices remain the main driver of the inflation rate.

The West African country is facing its worst economic hardship in over a generation marked by a cost-of-living crisis and huge public debt.

The government introduced tough measures including increasing utility tariffs, a review of existing taxes and the introduction of new ones to boost domestic revenue.

In May, the cocoa and gold-rich country secured a $3bn loan from the IMF to help ease the economic problems it faces.

This article originally appeared on BBC News.

Image via ΒNN Bloomberg.