Tag: Inflation
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Producer Price inflation records 8.9% in October 2019
The Producer Price Inflation reached 8.9 percent in October 2019. The PPI measures the average change in the prices received by domestic producers for their products. The 8.9 percent recorded in October 2019 is 0.2 percentage points lower compared to the 9.1 percent recorded in September 2019. Data released by the Ghana Statistical Service also…
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BoG will not hesitate to raise policy rate to deal with inflation
The Governor of the Bank of Ghana, Dr. Ernest Addison, has said the central bank will not hesitate to increase its monetary policy rate to deal with any surge in inflation. The central bank’s policy rate which signals the rate at which it lends to commercial banks is currently pegged at 16 percent while inflation…
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September inflation declines to 7.6 percent
The average movement of prices of goods and services over a 12-month period measured as inflation declined to 7.6 percent, the Ghana Statistical Service (GSS) has said. The September inflation recorded a 0.2 percent decrease from the 7.8 percent recorded in August. The announcement by the statistical agency means that within the last 12 months,…
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![[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas](https://citibusinessnews.com/wp-content/uploads/2019/10/pesewas.jpg)
[Audio] Price escalation in Ghana : Traders shun 1& 5 pesewas
A decade and two years after the re-denomination of the Ghana cedi, access and use of the 1 and 5 pesewa coins is still on the low. This is because consumers are compelled not to use them to pay for one transaction or another as most traders are still hesitant to accept the denominations as…
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Food prices to surge over increase in transportation — Esoko
Prices of foodstuff are likely to go up between two and five percent in the next couple of weeks. This is according to Commodity analyst, Esoko Ghana. According to Esoko, the increase in prices of foodstuff can be attributed heavily to the 10 percent increase in transport fares. The Ghana Private Road Transport Union (GPRTU)…
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July inflation rises to 9.4 percent
Inflation for the month of July rose to 9.4 percent, the Ghana Statistical Service has said. The figure recorded for July was an increase in the 9.1 percent recorded for the month of June. Inflation, measured as consumer price index, measures the change over time in the general price level of goods and services that…
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EIU backs Bank of Ghana to keep inflation in check for at least 4 years
The Economist Intelligence Unit (EIU) is forecasting that the Bank of Ghana will succeed in keeping inflation within its medium target of between 8-10 percent for at least the next three years. According to the EIU in its latest country report, the consumer price index is not going to go beyond the 10 percent mark.…
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June inflation drops to 9.1 percent
The Consumer Price Index (CPI) for June 2019 has dropped to 9.1 percent. The drop represents a 0.3 percentage decrease relative to the 9.4 percent recorded in May 2019. The Consumer Price Index measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption.…
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Inflation rate for May declines to 9.4 percent
The inflation rate for May 2019 dropped marginally to 9.4 percent from the 9.5 percent recorded in April 2019. This represents a 0.1 percentage point decrease. According to the Ghana Statistical Service (GSS), the price drivers for last month’s rate were food and non-food items. In an interview with Citi Business News, the Deputy Government…
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![[Article] Ghana’s fuel and utility prices set to anchor inflation for the rest of year](https://citibusinessnews.com/wp-content/uploads/2019/06/FNB-Logo.png)
[Article] Ghana’s fuel and utility prices set to anchor inflation for the rest of year
Following Ghana’s release of first-quarter fiscal numbers on June 3 that showed the government missed the budget deficit target, it drew the attention of investors as to whether it represented potential threat to inflation or currency stability. Ghana recorded a budget deficit of 1.6% of gross domestic product in the first three months of the…