Ghana: Inflation ticks down in May
June 12, 2019
Consumer prices rose 0.9% over the previous month in May, following a 1.1% month-on-month increase in April. The reading largely reflected higher prices for furnishings, household equipment and routine maintenance, clothing and footwear, and recreation and culture, which more than offset stagnant prices for communications and education.
Meanwhile, inflation ticked down from 9.5% in April to 9.4% in May. As a result, it remained within the Central Bank’s medium-term target band of 8.0% plus or minus 2.0 percentage points. Lastly, annual average inflation remained stable at the previous month’s 9.5% in May.
Author: Almanas Stanapedis, Economist