Ghana: Inflation reaches highest level in nearly six years
July 15, 2015
In June, consumer prices increased 1.80% over the previous month, which was up from the 1.02% rise tallied in May. May’s figure had marked a five-month low. June’s increase was driven by higher prices for food.
Inflation increased from 16.9% in May to 17.1% in June, thus reaching the highest rate since October 2009. As a result, inflation continues well above the Central Bank’s target of 8.0%. In line with the increase in annual figures, annual average inflation inched up from May’s 16.4% to 16.6% in June, the highest level since April 2010.
Author: Dirina Mançellari, Senior Economist