Ghana: Inflation increases further in January
February 18, 2016
In January, consumer prices increased 4.61% over the previous month, which was up from the 1.07% increase tallied in December, thus marking the fastest increase since February 2003. January’s increase was mainly driven by higher prices for food and non-alcoholic beverages.
Inflation in January increased from 17.7% in December to 19.1% in January, thus hitting the highest level in nearly seven years. Inflation remains well above the Central Bank’s target of 8.0%. Moreover, annual average inflation in January ticked up from 17.2% in December to 17.4%.
Author: Dirina Mançellari, Senior Economist