Ghana: Inflation edges up in February
March 14, 2018
Consumer prices rose 0.9% over the previous month in February, decelerating from January’s stronger 1.4% in month-on-month increase, and marking the lowest reading in the last three months.
Inflation picked up pace in February, coming in at 10.6% in the month, slightly above January’s 10.3% reading. The result largely reflected strong non-food inflation. Prices were notably higher for transport, and clothing and footwear.
As a result, inflation moved slightly further above the upper limit of the Central Bank’s medium-term inflation target of 8.0% plus or minus 2.0%. Nevertheless, annual average inflation ticked down from 12.1% in January to 12.0% in February.
Ghana Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 10.4% in 2018, which is down 0.1 percentage points from last month’s forecast, and 9.3% in 2019.
Author: Almanas Stanapedis, Research Team Manager