The country’s inflation rate is expected to ease further next year and remain in the single digit bracket, Fitch Solutions, research arm of ratings agency Fitch has revealed.
This forecast is coming on the back of three consecutive months fall to 10.1 percent in October 2020.
A Senior Country Risk Analyst for Sub Saharan Africa, William Attwell tells Joy Business a further drop in inflation will trigger monetary policy easing.
“We would expect monetary policy easing during 2021 because of a further fall in inflation. We’re expecting inflation to ease further next year and that will facilitate that process too. That’s really an austere on the monetary front for Ghana”
Inflation will play a critical role in the Monetary Policy Committee of the Bank of Ghana’s decision on the policy rate at the end of its meeting this Friday 20th November, 2020.
October 2020 Inflation
Year-on-year inflation slowed down in the month of October to record a rate of 10.1%, according to figures released by the Ghana Statistical Service.
This was a reduction of 0.3% from the previous month’s [September 2020] figure of 10.4%.
The GSS attributed the marginal decline in the inflation rate to decline in non-food inflation for the period.
Latest Stories
-
Yaw Nsarkoh: Bit by bit we will understand China
5 hours -
Looted and returned: Asante royal artefacts on display for public viewing at Manhyia Museum
5 hours -
Suspected killer in Kasoa land dispute shooting not a National Security operative
5 hours -
Ghana appoint four Para Athletics coaches in Preparation for Paris 2024
5 hours -
Kumasi Cheshire Home decries inadequate equipment; seeks public support
6 hours -
UCL: Niclas Fullkrug hands Dortmund first leg advange over PSG
6 hours -
GPL: Accra Lions beat Hearts of Oak to go third
8 hours -
Seek higher grounds as rains intensify – GMet warns
8 hours -
May Day: Sam Ankrah promises to prioritise welfare and well-being of workers if elected president
8 hours -
Bawumia plans door-to-door campaign for 2024 polls
8 hours -
GAF condemns ‘unprovoked’ fatal shooting of soldier in Kasoa land dispute
9 hours -
OSP’s request for money laundering probe against Cecilia Dapaah baseless – AG advises EOCO
9 hours -
Obofour Raphael releases ‘Asem Yi Di Ka’ EP
9 hours -
‘Operation Clean Your Surroundings’: Popular Kenkey joint and public toilets in Takoradi shut down
10 hours -
GFA boss Kurt Okraku graces Dreams FC’s dinner to celebrate CAF Confederation Cup exploits
10 hours