By A market analyst is forecasting a slight increase in inflation for August, despite a decline to 20.9 percent in July.
The anticipated rise is attributed to the rapid depreciation of the Cedi against the dollar.
These predictions come ahead of the Ghana Statistical Service’s (GSS) monthly inflation report, scheduled for release on Wednesday, September 11.
In an interview with Citi Business News, Economist and Fixed Income Analyst Wilson Zilevu indicated that inflation is expected to trend downward in the months leading up to the end of the year.
“In August, we expect a slight uptick in inflation, largely due to a low base effect and basically some slight increases in non-food items stemming from the Cedi’s volatility.
“Going forward, we expect the disinflation trend to continue, especially considering the fact that the Bank of Ghana (BoG) has created some kind of centralised platform that offers all forex bureaux some kind of price guidance. So we expect that this should stabilise the Cedi a bit. ”
