inflation rate Archives - Wontumi Online

06 Aug

Inflation Expected To Reach 15% By End Of 2024 – Amin Adam

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Finance Minister and Member of Parliament for Karaga, Dr. Mohammed Amin Adam, has projected that Ghana’s inflation rate will reach 15% by the end of 2024. Speaking during a town hall meeting in Accra, he highlighted that the Akufo-Addo-Bawumia administration’s efforts in managing inflation despite economic challenges, noting that the current government has achieved significant reductions in inflation rates since taking office in 2017. Dr. Amin Adam compared the current inflation rate to that of the previous National Democratic Congress administration, which recorded inflation rates of 17.7% in 2015 and 15.4% in 2016. In contrast, the NPP government, according to…

02 May

Inflation Rate Dropping, Interest Rates On Govt Treasury Notes Declining, Fall Of The Cedi Slowing – Akufo-Addo

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President Nana Addo Dankwa Akufo-Addo has said that the progress that has been made in securing the International Monetary Fund (IMF) Staff Level Agreement, in the debt exchange programme, and the implementation of key structural reforms, are yielding benefits. He said inflation is decelerating, interest rates on government treasury notes are declining, the depreciation of the cedi is slowing down, and Gross Domestic Product (GDP) growth for 2022 has performed beyond expectations. Speaking at the May Day celebration in Bolatanga on Monday May 1, Mr Akufo-Addo said “let me touch on a very important subject matter which is the status of the IMF programme…

13 Apr

March 2023 Inflation Rate Drops To 45% From 52.8%

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The Ghana Statistical Service (GSS) has said the inflation rate for March 2023 decline to 45.0 percent. This comes after the rate for February recorded 52.8 percent. This current decline however represents a 7.8 percentage points drop. This would be third the consecutive decline that the country has witnessed in its national inflation rate after marginal declines were recorded in January and February 2023. On the month-on-month basis, the GSS said the difference in inflation between February 2023 and March 2023 was -1.2 percent while food inflation was pegged at 50.8 percent from 59.1 percent recorded in February. Non-food inflation…

31 Jan

Top 10 African Countries Projected To Have The Lowest Annual Inflation Rates In 2023

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The continent is rich in human capital and natural resources, resulting in a market that has become attractive to foreign investors from every part of the globe. As a result, the levels of inflation on the continent barring complex domestic and foreign economic hurdles have been moderate at worse in recent years. Unfortunately, there was no shortage of these financial complications last year, and as a result, many African countries experienced a surge in their inflation rates. According to a report by the African Continental Free Trade Area, the average consumer price inflation across the continent is estimated to have…

24 Jan

The Year Ahead

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Note: The numbers in the graphs may not add up to 100 per cent because figures have been rounded up/down. The survey also highlighted significant regional divergence in growth expectations within a general pattern of weakened expectations relative to the last survey. The situation in Europe and the US is now stark, with 100 per cent of chief economists expecting weak or very weak growth this year in the former and 91 per cent expecting weak or very weak growth in the latter. This marks a significant deterioration in recent months: at the time of the last survey, the corresponding…

24 Oct

Interest Rates Hit 33%; Government Misses T-bills Sale By 16%

wontumionlineBusinessCEDI DEPRECIATION, inflation rate, Treasury Bill

Interest rates inched up to 33% to reflect surging inflation and the rapid depreciation of the cedi. The increase in interest rates is however lower than the current inflation of 37.2% and the rate of cedi depreciation which is more than 50%. This means the real rate of return of the short-term securities for investors is still negative. Again, the lower yields of the Treasury bills compared to the rates of inflation and the cedi depreciation make it unattractive for investors to purchase the cedi denominated assets Once again, the sale of Treasury bills by government was undersubscribed for the…