Ghana Inflation

Ghana

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.

FocusEconomics Consensus Forecast panelists expect inflation to end 2015 at 14.4%, which is up 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2016 at 11.2%.


Author:, Senior Economist

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Ghana Inflation July 2015

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


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