Ghana: Inflation in July reaches highest level in nearly six years
August 17, 2015
In July, consumer prices increased 2.32% over the previous month, which was up from the 1.75% rise tallied in June. July’s increase marked a six-month high and was driven by higher prices for food.
Inflation increased from 17.1% in June to 17.9% in July, thus reaching the highest rate since October 2009. As a result, inflation continues well above the Central Bank’s target of 8.0%. In line with the increase in annual figures, annual average inflation inched up from June’s 16.6% to 16.8% in July, the highest level since April 2010.
Author: Dirina Mançellari, Senior Economist