Ghana: Inflation ticks up in December
January 9, 2019
Consumer prices rose 1.1% in monthly terms in December, up slightly from November’s 0.7% uptick. 11 out of the 12 components of the index posted month-on-month increases, led by higher prices for clothing and footwear, and food and non-alcoholic beverages.
Meanwhile, inflation rose slightly from 9.3% in November to 9.4% in December, edging closer to the upper bound of the Central Bank’s medium-term target band of 8.0% plus or minus 2.0 percentage points. Lastly, annual average inflation moderated to a near five-year low of 9.8% in December from 10.0% in the previous month.
Ghana Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 9.5% in 2019, which is up 0.3 percentage points from last month’s forecast, and 8.6% in 2020.
Author: Almanas Stanapedis, Economist