{"id":269765,"date":"2024-12-23T10:42:18","date_gmt":"2024-12-23T10:42:18","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/12\/23\/deloitte-forecasts-average-inflation-of-11-9-for-ghana-in-2025\/"},"modified":"2024-12-23T10:42:18","modified_gmt":"2024-12-23T10:42:18","slug":"deloitte-forecasts-average-inflation-of-11-9-for-ghana-in-2025","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/12\/23\/deloitte-forecasts-average-inflation-of-11-9-for-ghana-in-2025\/","title":{"rendered":"Deloitte forecasts average inflation of 11.9% for Ghana in 2025"},"content":{"rendered":"<br><div id=\"article-text\">\n                       \n                        \n<p class=\"wp-block-paragraph\">Professional services firm, Deloitte is forecasting a further decline in inflation in 2025, due to a more stable cedi and falling domestic food prices.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">According to the leading global firm, inflation will average 11.9% next year.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cGhana\u2019s inflation declined in six of the 11 months so far in 2024, thanks partly to the effect of high interest rates. As of November 2024, the country\u2019s inflation rate was 23%, a far cry from the government\u2019s year-end target of 15%. Ghana\u2019s 11-month of 2024 inflation average is 22.85%, down from 2023\u2019s average of 40.28%\u201d, Deloitte West Africa revealed in its \u201cSneak Preview of 2025\u201d<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It explained that the &#8220;declining trend is projected to continue 2025 at an average of 11.9%. This is still above the upper band of the Bank of Ghana\u2019s 8% +\/-2% inflation target&#8221;.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It added that a more stable cedi, easing domestic food prices and waning supply side pressures will contribute to the projected decline in Ghana\u2019s inflation rate.<\/p>\n\n\n\n<figure class=\"wp-block-image size-full\"><img decoding=\"async\" src=\"https:\/\/www.myjoyonline.com\/wp-content\/uploads\/2024\/12\/inflation-.png\" alt=\"\" class=\"wp-image-10032662548\"\/><\/figure>\n\n\n\n<p class=\"wp-block-paragraph\"><strong>Implications and Risks<\/strong><\/p>\n\n\n\n<p class=\"wp-block-paragraph\">It pointed out that a sustained deceleration in Ghana\u2019s inflation outlook is positive as this will lead to reduced borrowing costs as the Bank of Ghana (BoG) effects more interest rate cuts.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">This will spur increased private sector spending and facilitate business expansions as more credit is made available to the real economy.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">\u201cThe lingering effects of election spending could limit the anticipated pace of disinflation. In addition, the government is likely to implement some new taxes and tariffs, while at the same time increase existing ones, such as water and electricity tariffs\u201d, it mentioned.<\/p>\n\n\n\n<p class=\"wp-block-paragraph\">If this happens, Deloitte said business owners will pass on these costs to consumers where the final tax burden typically lies, thus increasing cost of living.<\/p>\n\n                <p><strong>DISCLAIMER: <\/strong>The Views, Comments, Opinions, Contributions and Statements made by Readers and Contributors on this platform do not necessarily represent the views or policy of Multimedia Group Limited.<\/p>      \n               \n <!-- Post Tags -->\n                \n\n                        \n\n    \n                                 \n                                             \n                    <\/div>\n","protected":false},"excerpt":{"rendered":"<p>Professional services firm, Deloitte is forecasting a further decline in inflation in 2025, due to a more stable cedi and falling domestic food prices. According to the leading global firm, inflation will average 11.9% next year. \u201cGhana\u2019s inflation declined in six of the 11 months so far in 2024, thanks partly to the effect of [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":222655,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-269765","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>Deloitte forecasts average inflation of 11.9% for Ghana in 2025 - 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\/12\/23\/deloitte-forecasts-average-inflation-of-11-9-for-ghana-in-2025\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Deloitte forecasts average inflation of 11.9% for Ghana in 2025 - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Professional services firm, Deloitte is forecasting a further decline in inflation in 2025, due to a more stable cedi and falling domestic food prices. 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