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    Gov’t to commence talks with IMF for bailout

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    We’re not charging E-levy on merchant accounts – GRA

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    AfCFTA Secretariat calls for accelerated dev’t for key infrastructure in Africa to boost trade

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

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    [From the left] Thomas Abanga (CEO of Abanga Farms & Food Systems), Selma Ashipala Musavyi (Namibia High Commissioner to Ghana), Dr. Benjamin Sasu (Head of Food Safety), Mrs. Chariti Gbadawo (Director at the Ministry of Foreign Affairs & Regional Integration) ), Prof Bani (Board Chairman, Abanga Farms and Food Systems) and Clarence Zamuee (MEATCO Rep)

    Ghana’s Abanga Farms & Food Systems and Namibia’s Meatco in big partnership

    Gov’t still plans on tabling a legislation to compel banks to lend to the Agric sector – Agric Minister

    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Enterprise Group PLC records 37% rise in revenue in 2021

    Prices of petrol, LPG to fall by 4% in first pricing window of July – IES

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

    ASTM International pledges support for Ghana’s petroleum industry

    NIB MD laments cost of borrowing for private sector

    Finance professionals urged to develop strategies to boost ESG-driven business environment

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    Financial transactions will be allowed even without Ghana card from 1st July – GAB assures

    Losses due to fraud in banking sector in 2021 up by 144%; hits GH¢61m – BoG report

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    Dr. Bawumia unveils Ghana’s first Tier IV data centre

    ADB pioneers in global remittance services in Ghana [ARTICLE]

    Introduction of GhanaPay complements efforts to capture the unbanked into digital payments ecosystem – Veep

    #CitiBusinessFestival: How the country can take advantage of the “Ghana Opportunity”

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February 2016 inflation drops to 18.5 %

bycitibusinessnews
March 10, 2016
in Government, Top Stories
Dr. Philomena Nyarko is Government Statistician

Dr. Philomena Nyarko is Government Statistician

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Inflation for the second month of the year has decreased by 0.5 percent. Inflation for the February 2016 hit 18.5 percent compared with the 19.0 percent recorded in January 2016.

The monthly change rate in February 2016 was 0.7 percent while that of January 2016 was 4.6 percent.

The Ghana Statistical Service cites non-food inflation (decrease in utility, transport and education) as accounting for the decline.

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The year – on – year non – food inflation rate for February 2016 decreased to 24.5 percent compared to the 25.5% recorded in January 2016.

The consumer price index measures the change over time in the general price levels of goods and services that households require for the purpose of consumption.

The Deputy Government Statistician in charge of Operations at the Ghana Statistical Service, Anthony Amuzu, said the stable nature of the cedi contributed largely.

“The cedi stabilizing has played a major role in the drop of inflation as you can see that non-food inflation that is, housing, water, electricity, gas and other fuels which was at 41%, transport was at 30.4%, education was at 25.4% and recreation and culture had inflation of 25.3%. We hope to see this continues for sometime,” he stated.

The main “price drivers” for the food inflation rate were coffee, tea and cocoa (11.0%), Mineral water, soft drinks, fruits and vegetable juices (11.7%), Sugar, jam, honey, chocolate and confectionery (10.0%), and Vegetables (9.9%).

The Greater Accra region recorded the highest inflation rate of 22.0% while the Upper East Region recorded the lowest inflation rate of 13.8 percent.

–

By: Norvan Acquah– Hayford/citibusinessnews.com/Ghana

 

 

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