Consumer inflation further increased to 31.7 percent year-on-year (y-o-y) in July 2022, on the back of persistent price pressures from transport, data from the Ghana Statistical Service (GSS) have shown. This represents a 1.9 percentage point rise from 29.8 percent recorded in the previous month. Persistently increasing food, petroleum and transport...
Amid improved rainfall which has been better than the previous year, market watcher, Databank, anticipates that a better food harvest season could tame the rise in food inflation from the latter part of the third quarter to the fourth quarter. Although food inflation in June 2022 extended its gains by...
The Producer Price Inflation (PPI) rate has recorded a marginal decrease of 0.8 percentage points as the ex-factory prices of goods and services hit 12.8 percent in December 2021, recently-released provisional data from the Ghana Statistical Service (GSS) has shown. The figure represents year-on-year rate of change from December 2020...
The post COVID world has been observing massive heights in product price/inflation. However, it remains a grey area if the trajectory is long or short. Let’s first go through detrimental aspects of inflation in terms of the economic environment, global supply chain, policy regulations, demand factors, cost-push factors, rising...
The general price levels of goods and services, according to Ghana Statistical Service, have further increased in the month of May - following price hikes by traders due to the coronavirus pandemic effects. General prices increased by 0.7 of a percentage point over the previous month, as it recorded 11.3...
Despite inflation surging to double digits in April as a result of a spike in demand for food and other essentials in anticipation of the lockdown announcement, Databank Research says there is hope that the rate will come down due to government’s subsidy on utilities. In late March and April,...
The price of imported fresh tomatoes has sharply increased, as traders now have to travel up north to neighbouring Burkina Faso to buy fresh tomatoes for sale on the local market. This perennial shortage of the vegetable and reliance on Ghana’s northern neighbour to meet local demand for the commodity...
The decline in headline inflation for January to 10.3 percent is likely to push the central bank to continue its reduction in the monetary policy rate, Barclays Africa has said. According to a release by the research arm of the bank, “the deceleration in inflation will have been positively received...