adminGhana’s consumer price inflation is expected to ease in August after hitting a fresh three-year high in June, the West African country’s statistics office said yesterday. Ghana’s June inflation figure, calculated on a rebased index with fresh items for a second month, rose to 11,4 percent year-on-year from 11,1 percent in May, largely as prices for food and non-food items jumped during the month.
The rise was within the Central Bank’s target band of 2 percentage points either side of 9 percent.
“Both food and non-food contributed to the increase in June, with housing, water, power and gas going up,” Philomena Nyarko, Ghana’s acting government statistician told a news conference in Accra.
Nyarko however added that authorities expected price increases to ease soon.
“Going to the harvest period, we expect that inflation will drop on the back of lower food prices so we expect that from next month, inflation will start easing until September,” she said.
Ghana’s vice-president told Reuters on Tuesday that inflation in the gold, cocoa and oil-producing nation should remain within the 2013 target range of up to 11 percent. — Reuters
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