Ghana’s inflation outlook may be improving, but a sharp rise in food prices is emerging as a new concern, Government Statistician Dr Alhassan Iddrisu has warned. Speaking on JoyNews’ PM Express Business Edition on Thursday, he described the country’s recent inflation performance as a major achievement but cautioned that rising food costs could undermine the […]
Government Statistician Dr Alhassan Iddrisu has revealed that charcoal has become the single biggest driver of inflation in Ghana, with prices surging by more than 50% over the past year and placing renewed pressure on household budgets. Speaking on JoyNews’ PM Express Business Edition on Thursday, Dr Iddrisu said the development comes despite what he […]
The World Bank projects 4.8% growth for Ghana in 2026, alongside an end-of-year inflation rate of 9%. These forecasts were contained in the Bank’s latest Africa Economic Update report released on April 8. Details The 4.8% growth projection is in line with the government’s estimate captured in the 2026 budget. However, compared to 2025, the […]
Governor of the Bank of Ghana, Dr Johnson Asiama, has cautioned that rising tensions in the Middle East could undermine Ghana’s progress in reducing inflation, despite recent improvements in the country’s macroeconomic indicators. Speaking at the opening of the 129th meeting of the Monetary Policy Committee (MPC), Dr Asiama noted that developments in the global […]
Ghana’s annual inflation rate fell for the seventh consecutive month to 12.1 per cent in July, down from 13.7 per cent in June, marking the lowest level since October 2021, Government Statistician Dr. Alhassan Iddrisu announced today. Speaking at a press briefing in Accra today, Dr. Iddrisu noted that the sustained decline signals easing price […]
Inflation is expected to decline to 22.4% in January 2024 from 23.4% in December 2023, IC Research has predicted in its latest report. According to the research firm, improved foreign exchange outturn in late December 2023 into early January 2024 would sustain the lid on price pressures. “Our forecast shows a modest decline in the […]
The International Monetary Fund (IMF) is predicting a 15% end-of-year inflation in 2024. It is also forecasting an 8.0% end-of-year inflation in 2025, 2026 and 2027. This means that the increasing prices of goods and services will slow down this year and drastically in the next three years. The revelation was captured in the Fund’s […]
The Government Statistician, Professor Samuel Kobina Annim, presented the latest Consumer Price Inflation (CPI) data today in Accra, revealing a notable slowdown in the inflation rate by 3.2 percentage points. Inflation decreased to 23.2 per cent in December 2023, down from 26.4 per cent in November 2023. The year-on-year inflation drop marks the fifth consecutive […]
Inflation in Ghana has witnessed a significant decline for the third consecutive month, reaching a 14-month low of 35.2% in October. This marks a substantial reduction from the figures of 38.1% in September and 40.1% in August, according to data released by the Ghana Statistical Service. Government Statistician, Samuel Kobina Annim, announced on Tuesday in […]
Ghana’s currency, the cedi, has emerged as the top-performing currency against the US dollar in the past six months, bolstered by investor optimism that the country is on the verge of obtaining approval from the International Monetary Fund (IMF) for a $3 billion bailout. Since November, the cedi has gained an impressive 33%, outpacing around […]
The Ghana Union of Traders Association (GUTA), has urged its members in Accra to close down their shops from Wednesday till Monday, October 24, 2022. The move is to protest against rising inflation, depreciation of the Ghana Cedi and high lending rate due to an increase in the policy rate by the Bank of Ghana. […]
