BoG predicts inflation rise

Business News of Friday, 19 April 2013


BOG Building

The Bank of Ghana has predicted an inflation rate near the mark of 7-11 percent by the end of 2013.

According to the latest inflation outlook report, the Central Bank said, the effect of fiscal excesses in the Ghanaian economy, as well as, upward adjustments in fuel prices will push inflation up in the first half of the year.

Currently inflation is hovering around 10 percent after it hit 10.4 percent in March 2013.

However the regulator has said, inflation will decline in the second half of the year till December. BoG also cited upside and downside risks in the economy.

Acting Government Statistician, Dr Philomena Nyarko told XYZ BUSINESS, that she is unable to tell whether inflation will increase in the coming months or not.