ACCRA, March 5 (Reuters) – Ghana’s consumer inflation rate GHCPIY=ECI slowed for the second month in a row in February, to an annual 23.1% from 23.5% in January, the statistics service said on Wednesday.

Government statistician Samuel Kobina Annim told a news conference that the latest decline was due to both food and non-food price rises easing.

“In the last four months, you’ve seen consistent decline in food inflation on a month on month basis, declining by 2.0 percentage points between November 2024 and February 2025,” Annim said.

Nevertheless, the annual inflation rate in February was the third-highest in the last 10 months, he added.

The West African country is emerging from its deepest economic crisis in a generation, with turmoil in the vital cocoa and gold industries.

Its inflation remains well above Bank of Ghana’s 8% target with a margin of error of 2 percentage points either side.

The central bank said in January that it would take longer for inflation to return to within the 6%-10% range.

(Reporting by Christian Akorlie; Writing by Anait Miridzhanian; Editing by Bate Felix and Hugh Lawson)