Ghana cedis has depreciated

 Between 2016 and 2023, the Ghana cedi lost 64% of its purchasing power.

This means Eg: Imagine you had 100 Ghana cedis in 2016, and you could buy 10 loaves of bread with that money.

Now, fast forward to 2023. Due to inflation and the decrease in purchasing power of the Ghana cedi, that same 100 cedis can now only buy 3.6 loaves of bread.

So, even though you still have the same amount of money (100 cedis), you can buy significantly fewer goods with it because the value of the cedi has decreased over time.