Ghana: Inflation eases in May
June 14, 2017
Consumer prices in Ghana increased 0.7% in May in month-on-month terms, down from the 1.6% increase witnessed in April. May’s uptick was largely driven by higher prices for education, clothing and footwear and food and non-alcoholic beverages.
In annual terms, inflation decreased to 12.6% in May from April’s 13.0%, marking the lowest rate since December 2013. However, inflation remains above the target range of 6.0%-10.0% set by the Central Bank. Annual average inflation dipped down from 15.5% in April to 15.0% in May, the lowest reading in over two years.
Author: Jan Lammersen, Economist