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
-
Insinuating Bagbin is not heeding calls for recall because he is NDC unfounded and unfortunate – Parliament
27 mins -
Ashanti, Nelly are engaged and expecting a baby
1 hour -
New Ghana train on test run involved in accident
1 hour -
World Bank, AfDB partner to provide 300m African’s with electricity access
1 hour -
Ghana wins preliminary ruling in Cassius Mining’s $300m international arbitration
2 hours -
Ghana’s revenue-to-GDP ratio to exceed 17% within next six years, but expenditure to remain flat – IMF
2 hours -
Gborbu Wulomo didn’t marry Naa Okromo – Chieftaincy Minister
2 hours -
Oquaye Jr. says he’s undeterred by ‘propaganda’ twist to viral laundry video
2 hours -
Ghana’s debt-to-GDP ratio to tumble to 69.7% in 2029 – IMF
2 hours -
Interior Ministry imposes 4pm to 7am curfew on Sampa
2 hours -
Child marriage: Teenage girl to be released to her family – Gender Minister-designate
2 hours -
Naa Okromo is 15 years old, still a virgin and not married to Gborbu Wulomo – Government
3 hours -
GhIE condemns intervention by Ashanti Regional Minister in ECG Affairs; commends ECG GM for upholding regulatory standards
3 hours -
GPL: Asantehene tasks Asante Kotoko to do ‘better’ after crucial meeting
3 hours -
Why Sam Jonah can’t trust Ghanaian journos to cover Election 2024 professionally
3 hours