President Nana Addo Dankwa Akufo-Addo is predicting a reduction in the country’s inflation rate by the close of this year, 2023.

Inflation is the rate of increase in prices over a given period of time. Ghana’s current inflation rate stands at 38.1 percent as of September 2023.

According to the president, measures are being put in place by the government to revive the economy and tame inflation.

President Akufo-Addo was speaking at a meeting with the Christian Council of Ghana at the Jubilee House when he made the remarks.

“The signs are becoming clearer and clearer, the very high rate of inflation that we suffered last year is coming down. By the end of this year, we will be looking at 26.7 percent.”

“By the end of next year, we will bring it down to 15. We have to go down to the single digits,” he stated.

President Akufo-Addo also used the opportunity to ask for prayers to lead the country to recovery.