The protracted phase of deflation in the nation has ended – BoG Governor

The country’s protracted period of disinflation has ended, according to Dr. Johnson Asiama, Governor of the Bank of Ghana (BoG).

The Monetary Policy Committee (MPC) is currently determining whether the recent increase in inflation is transient or indicates a longer-term change in the inflation forecast.

Dr. Asiama stated at the commencement of the 131st MPC meeting in Accra that headline inflation had increased for three months in a row, from 3.2 percent in March to 5.3 percent in June, primarily due to increased transportation and haulage costs.

He pointed out that despite the rise, inflation is still significantly below the 13.7 percent reported during the same period last year and below the Bank of Ghana’s goal band of 8 percent, plus or minus two percentage points.

Source: newsthemegh.com