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Compiled By: Prince Henry Danquah, Bora Capital Advisors Ltd.
Inflation will continue to ease over the short-term ending 2024 at 20.8%, Fitch Solutions has disclosed in its Ghana Inflation 2024 Consumer Outlook.
At the same time, food prices will continue to decline. According to the UK-based firm, inflation will average 22.1% in 2024. Inflation fell to 20.9% in July 2024, from the peak of 54.1% in December 2022. “Into 2025, inflation will continue on a downtrend, averaging 16.2% year-0n-year.
Although inflationary pressures are easing, they remain higher than what consumers were used to pre-pandemic, when inflation in Ghana averaged 12.4% year-on-year over 2015-2019.
This highlights how consumers will continue to face inflationary pressures in the short term”, Fitch Solutions stated.
Source: newsthemegh.com