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.
Author: Dirina Mançellari, Senior Economist