Tag Archives: Inflation

Ghana’s inflation witnessed a marginal uptick from 23.2 to 23.5 percent for January 2024. This marks a reversal of the consecutive declines recorded between July and December 2023. This slight acceleration in consumer prices is attributable to the increase in non-food inflation drivers, mainly accommodation, electricity and clothing.     …

Ghana’s year-on-year inflation dropped significantly to 26.4% in November resulting in four months of consecutive decline since August 2023. This decline resulted in the inflation rate hitting 26.4%, the lowest figure witnessed in 20 months. Essentially, this rate signifies that the general price level in November 2023 was 26.4% higher …

Inflation shot up by 3.8% to end 2022 at 54.1%, data from the Ghana Statistical Service (GSS) has revealed. Despite a strong improvement in the value of the cedi and a reduction in the prices of petroleum products, the rate of inflation still went up in December 2022. This was …

The President of Ghana H.E  Nana Akufo-Addo says the country is lucky to have him as President, amidst the prevailing economic challenges.   According to him, even though there are existing difficulties, his regime is the best thing that could have happened to Ghanaians.   The President made these remarks …

The National Communications Director of the National Democratic Congress has bemoaned Ghana’s current inflation rate. Addressing the media on Wednesday, Sammy Gyamfi stated that the inflation rate in the country is worst compared to that of other countries in the sub-region.   “As we speak, inflation rate which stood at …

Ghana’s current inflation rate of 29.8% (June 2022, year-on-year) is exactly the same rate recorded in 2003 when the country was under the Highly Indebted Poor Country Programme (HIPC), which started in 2002.           In 2002, Ghana received debt relief amounting to US$275.2 million. The next …

Ghana’s inflation has soared again to hit 27.6 percent in the month of May 2022. This represents a four percentage points increase in the inflation rate compared to the 23.6 percent recorded in April 2022. Increase in transport fares and surging food prices pushed the rate of inflation in May …

The Monetary Policy Committee of the Bank of Ghana has increased the policy rate – the rate at which it lends to commercial banks – by 2.5% per cent to 17%. This is the first time since November 2018 that the rate has gone up so high. The decision is …

The month of November 2021 recorded the highest rate of inflation of 12.2% since the rebasing of the Consumer Price Index was done in 2019, the Ghana Statistical Service has indicated. This indicates that prices of goods and services witnessed upward adjustment during the period, a situation that will push …