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    “A new platform to represent Botswana,” says Amos on his coaching role in Iran

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    Karateka targets international titles

    Botswana gears up for high-stakes Gabs Open karate showdown

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

    Orange Botswana Awards P390,000 to Historic 4x400m Relay Champions, Coaches & BAA

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    Eppie’s breakthrough hints at a brighter future for Botswana’s 400m

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Ghana: inflation prints 29.8%

mm by RMB Africa Research
July 14, 2022
in News
Reading Time: 1 min read
0
Ghana: inflation prints 29.8%

Inflation in Ghana continues to soar: Oil price growth in cedi Source: Bloomberg, ETM Analytics

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Data released on Wednesday showed that inflation pressures in Ghana continue to build. Headline inflation accelerated to 29.8 percent y/y in June from 27.6 percent in May. The report revealed that inflation pressures are broad-based. That said, the main drivers of inflation were transport, household equipment and maintenance, housing, water, electricity and gas. Oil prices denominated in cedi are more than 80 percent higher on a year-on-year basis. This explains why transport costs are the biggest driver of inflation within the country. With inflation buoyed at these levels, there is a high possibility that the central bank will hike rates further in the coming months. Recall that the Bank of Ghana has already hiked rates by 550bp since November 2021.

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