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Tag Archives: Inflation

ICU pushes for low inflation to sustain jobs          

Solomon Kotei - General Secretary, ICU

The Industrial and Commercial Workers’ Union (ICU) has called on government to implement stringent measures that will further lower inflation in the country. According to the ICU, this will ensure that employers are able to sustain jobs and also absorb some of the teeming unemployed youth in the country. The Finance Minister, Ken Ofori-Atta during the 2018 budget presentation, announced ...

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Inflation drops again to 11.6%


The Consumer Price Inflation (CPI) has dropped again to 11.6 percent in October 2017. The figure went down by 0.9 percent from the 12.2 percent recorded in September 2017. This is the seventh time that inflation has dropped this year with some marginal increases between the ten month period [January to October 2017]. The CPI measures the average change over ...

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Inflation drops marginally to 12.2% in September

inflation pix

Ghana’s inflation rate for September 2017 reached 12.2 percent. This is a marginal drop of 0.1 percent in the inflation rate compared to the 12.3 percent recorded in August 2017. The inflation rate measures the average change in the prices of goods and services purchased by consumers within a given year. The Ghana Statistical Service (GSS) attributed the decline in ...

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Inflation hits 12.3% in August


Ghana’s inflation reached 12.3 percent in August 2017. This represents a negative 0.2 percent change in the inflation rate between July and August 2017. The inflation for July 2017 stood at 11.9 percent. Inflation measures the average rise in the prices of all consumer goods and services in the country. The inflation rate for August 2017 is the second time ...

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2017 first quarter GDP rises to 6.6%


Ghana’s Gross Domestic Product (GDP) for the first quarter of 2017, grew by 6.6 percent. This compares with the 4.4 percent recorded in the same period of last year. For the first quarter of this year, Ghana’s GDP at constant prices including oil was 8, 557.8 million cedis compared with the 8,028.4 million cedis recorded in the same period of ...

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Rising inflation to affect interest and exchange rates – Economist


Economist, Dr. Ebo Turkson has predicted of dire implications on interest and exchange rates should inflation rise in May. According to him, this will have a negative impact on businesses and the economy entirely. “When prices increase generally, our exports become less competitive because our goods are more expensive than formerly. So inflation is not a very good thing because ...

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Inflation rises to 13% after six months’ decline

Mr. Baah Wadieh, Acting Government Statistician

Ghana’s inflation hit 13 percent in April 2017. The figure went up by 1.6 percent from the 12.8 percent recorded in March this year. According to the Ghana Statistical Service (GSS), inflation for food items was 6.7 percent. Meanwhile inflation for non-food items such as transport and utility, went up by 16.3 percent in April 2017. The Acting Government Statistician, ...

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Inflation drops again to 13.2% in February

inflation 2

Inflation for the month of February dropped to 13.2 percent. It represents a monthly change rate of 0.1 percent compared to the 13.3 percent recorded in January this year. According to the Ghana Statistical Service, the food and non-alcoholic beverages recorded an inflation of 7.1 percent while the non food category recorded an inflation of 16.4 percent in February 2017. ...

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Private sector pushes for optimal inflation target

Mark Badu Aboagye - GNCC CEO

Private sector businesses have strongly advocated an optimal inflation target to guide economic policies that support private sector growth. They argue that the current drop in inflation while other factors such as interest rates and depreciation remain unchanged, make it difficult for them to plan and expand their business operations. “I think that as a country, we will need to ...

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Economist predicts single digit inflation in the medium term


Economist Professor Godfred Bokpin has predicted of a drop in inflation to single digits in the short to medium term. It follows what he describes as weak volatilities with the main price drivers of inflation such as utility prices and transport fares. “As a result the major drivers do not exhibit higher volatility going forward and for which reason I ...

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