Ghana inflation rate expected to fall to 8% in 2019

Ghana’s inflation rate is expected to drop to single digit in 2019. The ratings agency Moody’s says it expects the country’s inflation rate to fall to 8 per cent next year from 15. 4 per cent in 2016.

In a report copied to ghanabusinessnews.com, Moody’s says the drop in inflation rate will increase the probability of further interest rate cuts. The Bank of Ghana in March 2018 cut the policy rate by 200 basis points from 20 per cent to 18 per cent citing inflation forecasts.

Meanwhile in March 2018 year-on-year inflation fell slightly to 10.4 per cent compared with 10.6 per cent recorded in February 2018.

Mr Baah Wadieh, the Acting Government Statistician, told journalists in Accra that the monthly change rate in March 2018 was 1.1 per cent compared with the 0.9 per cent recorded in February 2018. He attributed  the fall to decreases in non-food items.

By Emmanuel K. Dogbevi
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