Ghana: Inflation drops to 9.9% in January
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Inflation rate has dropped from the 10.4 percent recorded in December last year to 9.9 percent in January 2021, the Ghana Statistical Service (GSS) has announced.
Inflation rate has dropped from the 10.4 percent recorded in December last year to 9.9 percent in January 2021, the Ghana Statistical Service (GSS) has announced.
Ghana’s crude oil revenue declined by 29.7 percent last year to US$666.38 million, from US$947.67 million in 2019, according to the latest semi-annual report on the petroleum holding fund (PHF).
Ghana's central bank left its policy rate steady, saying the rise in inflation to above its target was driven by food prices and while short-term risks to inflation from fiscal expansion and rising crude oil prices are emerging, it still expects inflation to return to the target in the second quarter.
As part of the medium-term plan for the trade of commodities in Ghana, the Ghana Commodity Exchange (GCX) is considering listing on its trading floor the light cocoa bean, which is mostly consumed by domestic processors.