Ghana Inflation February 2016

Ghana

Ghana: Inflation eases slightly in February

March 16, 2016

In February, consumer prices increased 0.71% over the previous month, which was down from the 4.61% increase tallied in January, thus marking the slowest increase since September of last year. February’s increase was mainly driven by higher prices for food and non-alcoholic beverages.

Inflation in February eased from 19.1% in January to 18.5% in February. January’s reading had marked the highest level in nearly seven years. Inflation remains well above the Central Bank’s target of 8.0%. Moreover, annual average inflation in February ticked up from 17.4% in January to 17.6%.

FocusEconomics Consensus Forecast panelists expect inflation to end 2016 at 14.4%, which is up 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2017 at 11.2%.


Author:, Senior Economist

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Ghana Inflation February 2016

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


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