Ghana Inflation June 2019

Ghana

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.

FocusEconomics Consensus Forecast panelists expect inflation to average 9.7% in 2019, which is down 0.1 percentage points from last month’s forecast, and also 9.9% in 2020.


Author:, Economist

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Ghana Inflation May 2019

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


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