Ghana Inflation March 2016


Ghana: Inflation hits over-six-year high in March

April 13, 2016

In March, consumer prices increased 1.65% over the previous month, which exceeded the 0.71% increase tallied in February. March’s increase was mainly driven by higher prices for food and non-alcoholic beverages as well as transport.

Inflation hit an over-six-year high of 19.2% in March, which followed February’s 18.5% reading. Thus, inflation moved further above the Central Bank’s target of 8.0%. Moreover, annual average inflation in March edged up from 17.6% in February to 17.8%. March’s surge in inflation partly reflects February’s 15% hike in fares of road transport operators, as higher transport fares impact almost all types of market activity.

FocusEconomics Consensus Forecast panelists expect inflation to end 2016 at 16.6%, which is up 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2017 at 12.7%.

Author: Teresa Kersting, Economist

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Ghana Inflation Chart

Ghana Inflation March 2016

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Ghana Statistical Service (GSS)

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