Ghana Inflation August 2016


Inflation rises in August

In August, consumer prices decreased 0.61% over the previous month, which contrasted the 0.84% rise logged in July. August’s print was driven by lower prices across several categories, including food and non-alcoholic beverages as well as housing, water, electricity and gas.

Inflation edged up from July’s 16-month low of 16.7% to 16.9% in August. As a result, inflation moved even further above from the Central Bank’s target of 8.0%. Annual average inflation in August inched down from 18.1% in July to 18.0%.

FocusEconomics Consensus Forecast panelists expect inflation to average at 17.3% in 2016, which is down 0.1 percentage points from last month’s forecast. The panel sees inflation at 12.4% in 2017.

Author:, Economist

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Ghana Inflation Chart

Ghana Inflation August 2016

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

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