{"id":188994,"date":"2024-06-11T11:43:27","date_gmt":"2024-06-11T11:43:27","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/06\/11\/ghanas-inflation-to-end-2024-at-20-9-narrow-to-11-1-in-2025-afdb\/"},"modified":"2024-06-11T11:43:27","modified_gmt":"2024-06-11T11:43:27","slug":"ghanas-inflation-to-end-2024-at-20-9-narrow-to-11-1-in-2025-afdb","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/06\/11\/ghanas-inflation-to-end-2024-at-20-9-narrow-to-11-1-in-2025-afdb\/","title":{"rendered":"Ghana\u2019s inflation to end 2024 at 20.9%, narrow to 11.1% in 2025 \u2013 AfDB \u2013"},"content":{"rendered":"<p><\/p>\n<div>\n<p>Ghana\u2019s inflation is expected to end 2024 at 20.9%, the African Development Bank has revealed in its updated 2024 African Economic Outlook.<\/p>\n<p>This is higher than the 17.4% it earlier predicted.<\/p>\n<p>It also means inflation would remain outside the Bank of Ghana\u2019s bound of 8%\u00b12.<\/p>\n<p>AfDB said the outlook is clouded by several factors.<\/p>\n<p>These are the impact of fiscal consolidation under the Post-Covid Programme for Economic Growth, the lingering effects of Russia\u2019s invasion of Ukraine, limited access to finance and foreign exchange, and global macroeconomic shocks.\u00a0<\/p>\n<p>However, it said prudent macroeconomic management policies could mitigate the risks.<\/p>\n<p>Furthermore, it said the Consumer Price Index would narrow to 11.1% in 2025.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/www.ghanamma.com\/wp-content\/uploads\/2024\/06\/Capture-2.png\" alt=\"\" class=\"wp-image-10032531216\"\/><\/figure>\n<p>Meanwhile, the average consumer price inflation in Africa is estimated to have increased by 3.0 percentage points to 17% in 2023, from 14.0% in 2022.<\/p>\n<p>East Africa recorded the highest inflation at 26.5% in 2023, with Sudan leading the way at 245.3%.\u00a0 West Africa has the second highest at 20.3%, with Sierra Leone and Ghana topping the list.<\/p>\n<p>The report said the higher inflation across Africa has eroded socioeconomic gains made before the COVID-19 outbreak.<\/p>\n<p>The increase reflects a combination of higher local food prices induced by drought-related domestic supply shortages, liquidity overhangs from pandemic-related fiscal and monetary policy stimulus undertaken in 2020\u201321, and the pass-through effects of currency depreciation against a strong US dollar propelled by high interest rates in the United States. Across regions, the inflation picture is mixed.<\/p>\n<p><strong>Source<\/strong>:\u00a0<a>Joy Business<\/p>\n<p><!-- CONTENT END 1 --><\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ghana\u2019s inflation is expected to end 2024 at 20.9%, the African Development Bank has revealed in its updated 2024 African Economic Outlook. This is higher than the 17.4% it earlier predicted. It also means inflation would remain outside the Bank of Ghana\u2019s bound of 8%\u00b12. AfDB said the outlook is clouded by several factors. These [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":120601,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-188994","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.8 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Ghana\u2019s inflation to end 2024 at 20.9%, narrow to 11.1% in 2025 \u2013 AfDB \u2013 - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/06\/11\/ghanas-inflation-to-end-2024-at-20-9-narrow-to-11-1-in-2025-afdb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Ghana\u2019s inflation to end 2024 at 20.9%, narrow to 11.1% in 2025 \u2013 AfDB \u2013 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Ghana\u2019s inflation is expected to end 2024 at 20.9%, the African Development Bank has revealed in its updated 2024 African Economic Outlook. This is higher than the 17.4% it earlier predicted. It also means inflation would remain outside the Bank of Ghana\u2019s bound of 8%\u00b12. AfDB said the outlook is clouded by several factors. 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