Ghana Inflation November 2019

Ghana

Ghana: Inflation jumps to four-month high in November

December 11, 2019

Consumer prices rose 0.7% in November, accelerating from October’s 0.4% increase and marking the highest reading since June. The upturn was largely driven by higher prices for food and non-alcoholic beverages, alcoholic beverages, tobacco & narcotics, and transport.

Inflation jumped from to a four-month high of 8.2% in November, from 7.7% in October. As a result, it landed above the midpoint of the Central Bank’s 6.0%–10.0% target band. Meanwhile, average annual inflation ticked down to 8.8% in November, from 8.9% in the previous month.

FocusEconomics Consensus Forecast panelists expect inflation to average 9.1% in 2020, which is down 0.3 percentage points from last month’s forecast, and 8.5% in 2021.


Author:, Economist

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