Ghana Inflation December 2015


Ghana: Inflation inches up in December

January 20, 2016

In December, consumer prices increased 1.07% over the previous month, which followed the 1.08% increase tallied in November. Last month’s figure had marked the highest reading in nine months. December’s increase was mainly driven by higher prices for food.

Inflation in December inched up from 17.6% in November to 17.7%, thus reaching a five-month high. Inflation remains well above the Central Bank’s target of 8.0%. Moreover, annual average inflation in December ticked up from 17.1% in November to 17.2%.

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 Chart

Ghana Inflation December 2015 2

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

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