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    Friday, May 15
    Inside Africa

    Ghana Sees Hot Temper Inflation Rate Jump

    Julius AlagbeBy No Comments1 Min Read
    Ghana Sees Hot Temper Inflation Rate Jump

    Ghana Sees Hot Temper Inflation Rate Jump

    Rising prices is far from becoming normal as Ghana sees a hot temper headline inflation rate jump as price level continues to face pressures from global drill down due to disruptions.

    According to the latest data from Accra, consumer price inflation inched upward to 27.6% year-on-year in May from 23.6% in April 2022. The worsening price level has affected Ghana’s cedis purchasing power.

    For now, inflation pressure has become a global phenomenon following the covid-19 disruption and then the Russian-Ukraine war.

    The latest jump marks a full year of sustained consumer price increase, the statistics service said on Wednesday. Frontier markets central banks have started making an upward adjustment to benchmark interest rates to combat worsening price levels.

    Inflation in Africa’s second-largest gold and cocoa producer hit an 18-year high in April, prompting the central bank to hike interest rates to 19% in late May. # Ghana Sees Hot Temper Inflation Rate Jump

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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