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    1D1F: Akufo-Addo inspects GH¢9.2M yam/cassava factory in Bimbilla

    1D1F: Akufo-Addo inspects GH¢9.2M yam/cassava factory in Bimbilla

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    PRINPAG vets Aspirants for executive election

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    C/R: Man inflicts cutlass wounds on co-worker for giving his fiancée, child GH¢20 for food

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    $100 million allocated for COVID-19 fight exhausted – Health Minister Designate

    IMF BoP support to Ghana reportedly pegged at $3bn

    Ease of setting up online business – Ghana ranks 5th on the Continent

    Ease of setting up online business – Ghana ranks 5th on the Continent

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    Gold Coast Refinery first in West Africa to receive certification from Responsible Jewellery Council

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    Beyoncé’s Renaissance debuts at number one – Asaase Radio

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    Kidnappers mocked us for raising ₦1.2m to secure release of actors – Actors Guild of Nigeria

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    Exposed: How Mills/Mahama passed law to use Ghana Card as only means of registering to vote

    I treat Majority leader’s ‘dead on arrival’ comment with contempt – Ablakwa

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    We’ll build a strong economy before 2024 elections in order to break the 8 – Akufo-Addo

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    YEA CEO Post: Replace Kodua with an Ashanti; a humble plea – NPP Youth for Ashanti interest

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    Everton sign Wolves defender Conor Coady on season-long loan

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    Commonwealth Games: Ghana women through to 4×100 relay final, men disqualified

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    1D1F: Akufo-Addo inspects GH¢9.2M yam/cassava factory in Bimbilla

    1D1F: Akufo-Addo inspects GH¢9.2M yam/cassava factory in Bimbilla

    PRINPAG vets Aspirants for executive election

    PRINPAG vets Aspirants for executive election

    Is The NPP Party For Sale?

    NPP orders party flags to fly at half-mast in memory of Harona Esseku

    C/R: Man inflicts cutlass wounds on co-worker for giving his fiancée, child GH¢20 for food

    C/R: Man inflicts cutlass wounds on co-worker for giving his fiancée, child GH¢20 for food

  • Business
    $100 million allocated for COVID-19 fight exhausted – Health Minister Designate

    IMF BoP support to Ghana reportedly pegged at $3bn

    Ease of setting up online business – Ghana ranks 5th on the Continent

    Ease of setting up online business – Ghana ranks 5th on the Continent

    Local bourse loses 46.79 points as MTN slips

    GSE: Volume of shares traded improves by 20,907%

    Gold Coast Refinery first in West Africa to receive certification from Responsible Jewellery Council

    Gold Coast Refinery first in West Africa to receive certification from Responsible Jewellery Council

  • Entertainment
    Beyoncé’s Renaissance debuts at number one – Asaase Radio

    Beyoncé’s Renaissance debuts at number one – Asaase Radio

    Kidnappers mocked us for raising ₦1.2m to secure release of actors – Actors Guild of Nigeria

    Kidnappers mocked us for raising ₦1.2m to secure release of actors – Actors Guild of Nigeria

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    Maintain Your Body – McBrown on criticism that she has enhanced hers

    Veteran actor, Prince Yawson ‘Waakye’ reported dead

    This is what killed ‘Waakye’

  • Politics
    Exposed: How Mills/Mahama passed law to use Ghana Card as only means of registering to vote

    Exposed: How Mills/Mahama passed law to use Ghana Card as only means of registering to vote

    I treat Majority leader’s ‘dead on arrival’ comment with contempt – Ablakwa

    Ablakwa slams Akufo-Addo following positive assessment of ministers

    E-levy: If slapping Deputy Speaker will make him do the right thing, so be it – Asiedu Nketia

    We’ll cancel any branch election that does not follow the rules – NDC  

    We’ll build a strong economy before 2024 elections in order to break the 8 – Akufo-Addo

    We’ll build a strong economy before 2024 elections in order to break the 8 – Akufo-Addo

  • Lifestyle
    Workout in the nature: Here are top 5 benefits

    Exercises you must do to burn fat: Top 5 Options

    5 ways to naturally detox your body

    5 ways to naturally detox your body

    Nearly a quarter of all women are not able to say no to sex – UNFPA Report

    Sex before a long journey can kill you – Drivers warned

    Stay in shape: Here are a few top tips

    Stay in shape: Here are a few top tips

  • Opinions
    Bawumia to speak on future of Ghana’s economy tomorrow

    How digitalization has made the most impact in the fight against corruption since Ghana’s independence

    Court adjourns Ofosu Ampofo, Boahen trial to February 2

    Disingenuous NDC must end their fault-finding agenda against EC’s proposal to have Ghana Card as an identity for registration by 18-year olds

    NPP ‘packing’ to exit rather than working to break the 8 – Prof Gyampo

    NPP ‘packing’ to exit rather than working to break the 8 – Prof Gyampo

    YEA CEO Post: Replace Kodua with an Ashanti; a humble plea – NPP Youth for Ashanti interest

    YEA CEO Post: Replace Kodua with an Ashanti; a humble plea – NPP Youth for Ashanti interest

  • Health
    Health directorates in Kroboland warn of health emergency over prolonged power cut

    Health directorates in Kroboland warn of health emergency over prolonged power cut

    WHO declares highest alert over monkeypox

    monkeypox Kills One person

    Marburg Virus: Over 100 contacts cleared, 81 others identified – GHS

    Marburg Virus: Over 100 contacts cleared, 81 others identified – GHS

    WHO declares highest alert over monkeypox

    Mining pits possible breeding grounds for bats carrying Marburg virus – GHS

  • World News
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    Trump says FBI agents raided his Florida home

    Kenya elections 2022: Odinga, Ruto in tight race for president

    Kenya elections 2022: Odinga, Ruto in tight race for president

    Israel-Gaza: Death toll rises as Israel kills second top militant

    Israel-Gaza: Death toll rises as Israel kills second top militant

    Uganda LGBT rights: Government shuts down key advocacy group

    Uganda LGBT rights: Government shuts down key advocacy group

  • Videos
    Camidoh drops the acoustic performance of his EP

    Camidoh drops the acoustic performance of his EP

    Sarkodie – Happy Day ft. Kuami Eugene (Official Video)

    Sarkodie – Happy Day ft. Kuami Eugene (Official Video)

    Strongman Releases Flawless Official Video

    Strongman Releases Flawless Official Video

  • Sports
    Tamale City secure promotion to Ghana Premier League

    Tamale City secure promotion to Ghana Premier League

    Everton sign Wolves defender Conor Coady on season-long loan

    Everton sign Wolves defender Conor Coady on season-long loan

    West Ham 0-2 Man City: Haaland makes EPL debut & nets brace to seal away win

    West Ham 0-2 Man City: Haaland makes EPL debut & nets brace to seal away win

    Commonwealth Games: Ghana women through to 4×100 relay final, men disqualified

    Commonwealth Games: Ghana women through to 4×100 relay final, men disqualified

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IMF lowers Ghana’s inflation forecast to 9.6%

MyPublisher24 by MyPublisher24
August 5, 2021
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The International Monetary Fund is projecting a 9.6% inflation by the end of the year before returning to target next year.

This means prices of goods and services will inch up but slightly between now and the rest of year.

The new forecast by the IMF is in line with the Bank of Ghana’s target of 8%+/- 2, lower than its earlier projection.

This means your disposable income will not be affected much, whilst your savings will not be eroded as well.

However, any risk to the exchange front -where the cedi has done pretty well so far this year – and the current account, could be challenging.https://f2847b4a2536ce2b2c9c332873f6cb1b.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

Inflation spiked to double digits in April last year because of rising food prices due to the partial lockdown, before falling to 7.5% in May 2021 this year.

But pressures from higher fuel and import prices and budget revenue measures could push it up slightly before the end of the year, before returning to target next year.

Already, interest rates on the money market have taken a nosedive, indicating a reflection of the lower inflation.

Lending rates have also fallen to about 20% per annum, a move that will encourage borrowing by the private sector to stimulate growth.https://f2847b4a2536ce2b2c9c332873f6cb1b.safeframe.googlesyndication.com/safeframe/1-0-38/html/container.html

The IMF at the beginning of the year forecast an end-year Inflation rate of 8.7% for Ghana but in May 2021 revised the rate upwards to 9.8%.

It still however makes it one of the countries with the highest increases in prices of goods and services in the ECOWAS sub region.

Source: Myjoyonline.com

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