Ghana Inflation

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Ghana: Inflation inches up in May

June 17, 2015

In May, consumer prices increased 1.00% over the previous month, which was down from the 1.80% rise tallied in April and marked a five-month low. May’s increase reflected higher prices for food and non-alcoholic drinks.

Headline inflation inched up from 16.8% in April to 16.9% in May, thus marking the highest reading in five months. As a result, inflation continues well above the Central Bank’s target of 8.0%. In line with the mild increase in annual figures, annual average inflation inched up from April’s 16.3% to 16.4% in May, 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 May 2015 0

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


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