Tag: Inflation
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February inflation rate remains unchanged at 7.8 percent
The inflation rate of all goods and services remained unchanged at 7.8 percent for February 2020. This is in spite of the fact that general prices of food and non-alcoholic beverages witnessed a marginal rise in the month of February compared to January 2020. The Ghana Statistical Service cited food items such as vegetables, fruits…
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New law on weights and measurements to boost accuracy of inflation figures – GSS
The Ghana Statistical Service, GSS, is hopeful that a new law to standardize weights and measurements will help in determining accurately, the rate of inflation in Ghana. The Government Statistician, Prof. Samuel Annim, who disclosed this to Citi Business News, said the current regime makes it difficult to determine the relative increase in prices of…
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Inflation drops for the second month running
Ghana’s inflation recorded for the month of January 2020, dropped to 7.8 percent, the second consecutive month a drop has occurred. According to the Ghana Statistical Service, the year-on-year average movement of prices of goods and services fell marginally from 7.9 percent in December 2019. Announcing the figures on Wednesday, February 12, 2020, Prof. Samuel…
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Financial sector clean-up: Printing money to pay depositors a bad idea – Prof. Quartey
Economist, Prof. Peter Quartey, has shot down the proposal for government to consider the printing of more money to settle claims of depositors of collapsed financial institutions. He believes printing more money will have serious implications on the country’s budget deficit which is the difference between government’s revenue and expenditure. His comments follows Renowned Economist,…
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Greater Accra is most expensive region in Ghana, Ashanti among the cheapest — GSS
An analysis of the Ghana Statistical Service’s data on inflation for 2019 shows that Greater Accra was the most expensive region for consumers over the past 12 months. The country’s statistical agency which collects data on the changes in prices of food and non-food items on Wednesday, released its December 2019 data which showed that…
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December inflation slows to beat govt’s 2019 end-year target
Inflation for the month of December 2019, declined to 7.9 percent beating the end-year target the Finance Minister announced in the mid-year budget. Mr. Ofori-Atta had set the government’s sights on achieving an end-year inflation rate of 8 percent. But inflation slowed from 8.2 percent in November 2019, to close the year within the government’s…
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The financial sector reforms and the return of NAM1: A Citi Business News Review of 2019
This year has witnessed a number of interesting events and happenings that have in one way or the other shaped the local economy. These happenings have largely had an impact on the economies of individuals both positive and negative in some cases. The year started on quite a sour note for Heritage and Premium banks.…
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Inflation inches up for the second consecutive month
Inflation has continued its upward trajectory for the second month running, rising to 8.2 percent in November, the Ghana Statistical Service has said. The increase recorded last month, represents a 0.5 percentage points increase in the October 2019 inflation of 7.7 percent. The Statistical Service three months ago, using a new series, announced inflation had…
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New Cedi notes won’t increase inflation – Banking Consultant
A Banking Consultant, Nana Otuo Acheampong, does not think the introduction of the 100 and 200 Cedi notes will contribute to any inflation as some have suggested. “We are not changing prices anyway… if anything at all, it [the new notes] should have a positive or at worst a neutral effect on inflation but not…
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New Ghana cedi denominations won’t lead to inflation – Ebo Duncan
An Economist and former Head of Economic Statistics at the Ghana Statistical Service, GSS, Dr. Ebo Duncan, has downplayed suggestions that the newly introduced Ghc200 and Ghc100 notes, as well as the Ghc2 coin by the Bank of Ghana, will increase the prices of goods and lead to inflation. The Governor of the Bank of…