Inflation & Prices
Ghana Inflation Accelerates to 23.5%, Curbing Rate-Cut Hopes
- Consumer prices accelerated from 23.2% the month prior
- Release of data coincides with announcement of cabinet changes
Crowds of shoppers walk through Makola market in Accra, Ghana.
Photographer: Ernest Ankomah/BloombergThis article is for subscribers only.
Ghana’s inflation rate unexpectedly rose in January for the first time in six months, reducing the chances of another rate cut next month.
Annual inflation accelerated to 23.5% from 23.2% in December, Government Statistician Samuel Kobina Annim said in the capital, Accra, on Tuesday. Only two of nine economists in a Bloomberg survey predicted an increase.