Ghana: Inflation picks up in May
June 15, 2016
In May, consumer prices increased 1.15% over the previous month, which was down from the 1.40% increase tallied in April. May’s print mainly reflected that prices for food and non-alcoholic beverages recorded a somewhat smaller rise than in the previous month.
Inflation ticked up from 18.7% in April to 18.9% in May. As a result, inflation moved further above the Central Bank’s target of 8.0%. Moreover, annual average inflation in May rose from 17.9% in April to 18.1%.