Tag: Inflation in Ghana
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Inflation for December jumps to 54.1%
The Ghana Statistical Service has pegged the inflation rate for December 2022 at 54.1 percent. This means that in the month of December 2022, the general price level was 54.1% higher than in the same period in 2021. At 59.7%, food inflation was the highest inflation rate for December 2022, soaring past the 55.3% recorded…
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Ghana’s ailing economy: A look at the inflation trend in 2022
Ghana’s economy has overly performed poorly this year and with just three months left to the end of year, it doesn’t seem like there’s light at the end of the tunnel. Prices continue to soar for both food and non-food items of which transport, housing, utilities, and prices of imported goods are rising more than…
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Sachet water to sell for 50 pesewas from September 19
The price of sachet water is expected to go up to 50 pesewas from September 19 after recommendations by the National Association of Sachet and Packaged Water Producers. A bag of sachet water will also now sell at GH¢7 from the retail trucks. The association in a statement also recommended that bottled water prices be…
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IEA calls for changes in current inflation targeting structure
The Institute of Economic Affairs (IEA) has asked for reform in the current inflation-targeting framework operated by the Bank of Ghana. The Director of Research at the Institute of Economic Affairs, Dr. John Kwakye believes the framework does not help the country achieve its inflation targets because it predominantly focuses on demand-side factors, while the…
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Inflation rate falls to 8.5% in April; closest to yearly target
Ghana has recorded the lowest year-on-year inflation since the emergence of the COVID-19 pandemic. The inflation rate recorded for the month of April 2021 was 8.5 percent, which is 1.8 percentage points lower than the 10.3 percent recorded in March this year. The figure falls within the medium-term inflation target of 8.0±2 percent. Before the…
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Inflation rate sees further drop in September
Ghana has for the second time, recorded a drop in inflation rate since the country recorded its first case of COVID-19 in March this year. The year-on-year inflation rate for September, which is 10.4 percent, represents a 0.1 percent drop from the 10.5 percent recorded in August this year. This essentially means that in the…