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.
Author: Oliver Reynolds, Economist