Ghana: Inflation inches up in October
Consumer prices rose 0.4% in October, contrasting September’s 0.1% dip according to Ghana’s Statistical Institute (GSS). The increase largely reflected higher prices for alcoholic beverages, tobacco and narcotics, and transport.
Inflation edged up to 7.7% in October from 7.6% in September, thus remaining below the midpoint of the Central Bank’s 6.0%–10.0% target band. Meanwhile, average annual inflation logged 8.9%, slightly below September’s 9.0%.
A change to the base year from 2012 to 2018 in August has significantly lowered inflation calculations in the last months.