Tag: Inflation
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MPR must be maintained due to slowdown in inflation curve – Economist proposes
Economist with GCB Capital Limited, Courage Boti has suggested that the Monetary Policy Committee should maintain the current monetary policy rate despite calls by other stakeholders to increase it to stem inflation. Although the country’s inflation rate increased to 29.8 percent in June, the 2.2 percentage point gap compared to what was recorded the previous…
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Employ targeted-subsidized systems to check macro-economic challenges – Prof. Quartey
As part of efforts to address the various macro-economic challenges facing the Ghanaian economy in recent times, Director of the Institute of Statistical, Social and Economic Research, at the University of Ghana, Prof. Peter Quartey is calling for targeted fiscal policy and subsidy interventions. This comes on the back of the continuous fuel price hikes…
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Inflation in Africa: Some subsidy programs prolonging situation – Jeff Gable
The Head of FICC Research and Chief Economist at ABSA; Jeff Gable, says the consistent introduction of subsidies in the midst of global economic challenges will only prolong the effects of inflation in that country. According to him, governments in Africa must rather focus on slowing down demand for products rather than subsidizing the cost.…
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Togbe Afede XIV urges BoG to introduce measures to deal with rising inflation
The Paramount Chief of the Asogli Traditional Area, Togbe Afede XIV, is urging the Bank of Ghana to speedily put in place measures to curb the continuous rise in inflation in the country. According to him, the current approach is not yielding the expected outcomes. He has thus called for a relook at the approach…
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Gov’t to put measures in place to reduce ‘imported inflation’ – Ofori-Atta
Finance Minister, Ken Ofori-Atta, has stated that government is committed to building an entrepreneurial society to help reduce the imported inflation. His comments come as recent data from the Ghana Statistical Service indicates that the continuous increase in transport fares and food prices across the country has pushed the national year-on-year inflation for April 2022 to…
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Continuous increase in food, transport prices push April inflation to 23.6%
The continuous increase in food and transport prices across the country has pushed the national year-on-year inflation for April 2022 to 23.6 percent. This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service. The rate is 4.2 percentage points higher than the 19.4% recorded in March 2022. The rise…
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Economist predicts further hikes in inflation rate
Economist, Dr. Patrick Asuming, is forecasting higher inflation rates in the country in the coming months before it takes a downward turn. According to him, this is due to current market developments. National inflation has hit 19.4% in March 2022, the highest since 2009. The rate is 3.7 percentage points higher than the 15.7 percent…
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Economist charges gov’t to boost domestic production of food to check rising inflation rate
As food inflation continues to impact strongly on national inflation, Economist, Dr. Patrick Asuming is urging Government to introduce more policies and programs to boost domestic production as part of efforts to check the rising inflation rate in the country. National inflation has accelerated to hit 19.4% in March 2022, the highest since 2009. The…
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Hike in prices of food, transport and housing push inflation for March 2022 to 19.4%
Significant increases in the prices associated with food, transport and housing have pushed the national year-on-year inflation for March 2022 to 19.4 percent. This is according to the latest data from the Ghana Statistical Service. The rate is a 3.7 percentage points higher than the 15.7 percent recorded in February 2022. The rise in the…
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Economist charges gov’t to boost domestic food production to check rising inflation
Economist with Databank, Courage Martey, is asking government to put in measures, to boost domestic food production to bring the cost of food down in order to check the rising inflation rate in the country. Food inflation was one of the main influencers for the recent rise in inflation in the country. The rate for…