Category: Markets
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Housing, fuels, food etc. push November inflation to 12.2 %, highest since 2019
Increases in prices associated with housing and transport across the country as well as an overall increase in the contribution of food inflation to national inflation have pushed the rate for November 2021 to 12.2 %. This is according to the Ghana Statistical Service (GSS). The rate of inflation for the month of November is…
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Importers threaten to increase prices of goods if Gov’t doesn’t restore benchmark policy
The Importers and Exporters Association of Ghana is threatening to have its members increase the price of the goods they bring into the country if the government goes through with the reversal of the 50% benchmark policy on some 32 product categories. Some documents cited by Citi Business News purportedly from the Ghana Revenue Authority…
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Food prices likely to drop by end of August – Esoko Ghana
After several weeks of increases in food prices on the market, consumers should expect some stability and price reductions by the end of this month, August 2021. This prediction was made by commodity analyst, Esoko Ghana. The consistent increases in food prices over the past weeks have left many households and businesses worried. In an…
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Surge in food prices pushes year-on-year inflation rate to 9% in July
Significant increases in food prices across the country have pushed year-on-year inflation for July 2021 to 9%. This is the highest rate of inflation recorded since March of this year when the inflation rate stood at 10.3 percent. This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service. The…
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Inflation rises for first time since February 2021; now at 7.8%
Ghana’s national year-on-year inflation rate has once again taken an upward turn, albeit marginally, after two months of consecutive drops, to hit 7.8 percent in June 2021. This increase is 0.3 percentage points higher than the 7.5 percent recorded in May this year. Inflation is often referred to as a “measure of the increase in…
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![Local economy receives major boost in Adjen Kotoku [Video]](https://citibusinessnews.com/wp-content/uploads/2021/07/adjen-kotoku-market.png)
Local economy receives major boost in Adjen Kotoku [Video]
Over a week after onion sellers were relocated to Adjen Kotoku from Agbogbloshie, business appears to be picking up at a rather encouraging rate. This is not limited to the traders alone, but also the local economy. Although the traders still have many challenges that need to be addressed as soon as possible, most of…
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GSE likely to record first positive yearly return since 2017 – Analyst
A continuous easing of COVID-19 related restrictions will see the Ghana Stock Exchange (GSE) ending the year 2021 on a positive note, the first time since 2017. That’s according to the General Manager of UMB Stockbrokers, Ben Ackah. For the past decade, the Ghana Stock Exchange Composite index (GSE-CI) which reflects the average performance of…
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GSE returns 36% in Cedi terms to investors in first half of 2021
After recording negative returns from 2018 to 2020, the Ghana Stock Exchange has taken a strong positive turn, returning about 36% in Cedi terms for investors in the first half of 2021. During the same period last year, the stock exchange returned about -16% to investors. The strong performance can be attributed mainly to a…
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COCOBOD borrows $2 billion in response to improved production by farmers
Better than expected, cocoa production for the 2020-2021 crop year has led the regulator of the sector, the Ghana Cocoa Board (COCOBOD), to borrow extra on the domestic market, to among other things mop up the excess cocoa beans being produced by farmers. COCOBOD has so far sold $2 billion (GHS 11.7 billion) of six-month…
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GUTA cautions against reversal of 50% reduction in benchmark values
The Ghana Union of Traders Association (GUTA), is cautioning government against any attempt to reverse the 50% reduction in benchmark values. The warning, according to GUTA, follows attempts by the Association of Ghana Industries (AGI) to get government to cancel it. Benchmark values are reference values that Customs uses in determining taxes and duties on…