Ghana Inflation August 2017


Ghana: Inflation picks up in August

September 14, 2017

Consumer prices fell 0.2% in August compared to the prior month, contrasting July’s 0.7% rise. The drop was driven by lower prices for food and non-alcoholic beverages and health.

Inflation picked up from 11.9% in July to 12.3% in August, marking the first rise since April, and moving further away from the Central Bank’s 6.0%-10.0% target band. This will give the Bank of Ghana (BoG) food for thought over whether to continue with its current monetary easing cycle at September’s monetary policy meeting. Annual average inflation dipped from 14.0% in July to 13.7% in August.

FocusEconomics Consensus Forecast panelists expect inflation to average 12.5% in 2017 and 10.3% in 2018.

Author:, Economist

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Ghana Inflation Chart

Ghana Inflation August 2017 0

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

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