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Thu, 10 Oct 2024
Source: Joy Business
Inflation is projected to rise slightly to 21.6% in October 2024, following a 110 bps increase to 21.5% in September.
IC Research notes the government's year-end inflation target of 13.0%-17.0% faces risks, likely keeping the policy rate at 27.0%.
Food inflation, driven by weather impacts, surged 300 bps to 22.1%, while non-food inflation dropped 60 bps to 20.9%, helped by lower petrol and diesel prices.
Concerns arise about election-related spending pressures and currency risks, pulling Ghana's real policy rate below peers like Kenya and Uganda.
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Source: Joy Business