Inflation & Prices
Ghana Inflation Surges to Four-Month High Putting Rates in Focus
- Inflation quickened to 43.1% in July; median estimate was 42%
- If uptick sustained central bank may hike rates again
Shoppers walk through a food market in Accra, Ghana.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
Ghana’s inflation rate unexpectedly rose to a four-month high in July on food costs, adding pressure on the central bank to continue rate hikes next month.
Annual inflation quickened to 43.1% from 42.5% in June, Government Statistician Samuel Kobina Annim told reporters in the capital, Accra on Wednesday. That was the highest level since March. The median estimate of five economists in a Bloomberg survey was 42%.