Ghana: Inflation ticks down in January
Consumer prices jumped 1.4% in January, accelerating from December’s 0.3% uptick and marking the highest reading since January 2018. The reading largely reflected higher prices for food and non-alcoholic beverages.
Inflation ticked down to 7.8% in the first month of the year, from 7.9% in December. As a result, it moved slightly further below the midpoint of the Central Bank’s 6.0%–10.0% target band. Meanwhile, average annual inflation ticked down to a six-year low of 8.6% in January, from 8.7% in the previous month.