Ghana: Inflation falls to within Central Bank's target range in April
May 11, 2018
Consumer prices rose 0.9% over the previous month in April, easing from March’s 1.1% month-on-month increase. The moderation was driven by a notable fall in the price for housing, water, electricity, gas and others fuels from the previous month in March.
Inflation ticked down in April to 9.6% from 10.4% in March. The reading largely reflected a moderation in transport and housing and utilities prices, which was partially offset by an uptick in food prices.
As a result, inflation moved to within the Central Bank’s medium-term inflation target of 8.0% plus or minus 2.0%. Meanwhile, annual average inflation ticked down from 11.7% in March to a nearly four-year low of 11.4% in April.
Ghana Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 10.1% in 2018, which is down 0.2 percentage points from last month’s forecast, and 8.9% in 2019.
Author: Lindsey Ice, Economist