Ghana: Inflation stable in February
Consumer prices rose 0.4% in Febraury, slowing from 1.4% in the opening month of the year which had marked the highest reading since January 2018. A breakdown of the sub-components showed that higher prices for clothing and footwear, and alcohol and tobacco led the overall increase, while prices for food and non-alcoholic beverages increased more mildly in February.
Inflation remained unchanged at the previous month’s 7.8% in February, thus staying just below the midpoint of the Central Bank’s 6.0%–10.0% target band. Meanwhile, average annual inflation ticked down to an over six-year low of 8.5% in February, from 8.6% in January.