Bank of Ghana Governor, Dr. Ernest Addison, remarked that the policy mix under Ghana's IMF-supported PC-PEG program is showing positive outcomes.

He highlighted that headline inflation, which peaked at 54.1 percent in December 2022, has decreased to 35.2 percent in October 2023 and further dropped to 26.4 percent in November 2023.

Dr. Addison made these observations while delivering remarks at the end-of-year cocktail event held by the Bank of Ghana in Accra on December 14, 2023.

“I kept on reminding people that inflation was at 12.7% in December 2021 and what we saw in 2022 should not be used to judge us.”

“As you are aware there has been considerable noise from our detractors who have celebrated the high inflation recorded in 2022. Today we are vindicated that inflation in 2022 was just a blip and we are quickly returning to where we were before the crisis,” he added.