Inflation for the month of November 2023 is expected to record a sharp decline.
This is due to the favourable base-drift effect.
According to GCB Capital, it expects the disinflation process to continue ahead of the release of Ghana's November 2023 Consumer Price Index on Wednesday, December 13, 2023.
It said both headline and core inflation have declined sharply this far in 2023.
However, headline inflation is still elevated, necessitating keeping a continuously tight monetary policy stance to anchor the disinflation process.
“With a broad decline in food and non-food inflation firmly in motion and the cost-side and demand-side pressures receding through the second half of 2023, we expect a sharp decline in headline inflation below the 30% mark”, it explained.
It continued that headline inflation could print near 26%, restoring positive real returns on T-bills and quickening the anticipated correction in nominal yields in 2024, all things being equal.
The year-on-year inflation for the month of October 2023 fell to 35.2% from the 38.1% recorded in September 2023.
Data from the Ghana Statistical Service (GSS) showed that the decrease in the general inflation rate was attributed to the marginal drop in food inflation.
Food inflation in the period was 44.8%, while non-food inflation was 27.7%
In addition, inflation for locally produced items was 34.4% while imported items stood at 34.4% from 37.4% last month.
Latest Stories
-
869 births registered in 2022 were to mothers under 15 years old – Births and Deaths Registry
7 mins -
We will improve the aviation sector – Akufo-Addo
10 mins -
For every death recorded in 2022, 13 births were recorded – Births and Deaths Registry
19 mins -
We will incentivise churches to complement government efforts – Bawumia pledges
24 mins -
I commit to make KNUST one of the best in the world- Otumfuo Osei Tutu II
30 mins -
Government urged to rethink strategies in the fight against galamsey
48 mins -
Dagbon Overlord assures National Security of utmost vigilance in Northern Region
2 hours -
Fire destroys nine shops at Obuasi
2 hours -
Former UMB boss Nana Dwemoh Benneh appointed CEO of GIIF
6 hours -
Togbe Afede XIV calls for drastic restructuring of Bank of Ghana
6 hours -
Eric Johnson
6 hours -
Djokovic struck by water bottle at Italian Open
6 hours -
777 call in finance experts as Everton uncertainty grows
6 hours -
Casemiro left out of Brazil squad for Copa America
6 hours -
Chelsea sacking would not be a problem – Pochettino
6 hours