• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business

Ghana’s 40.1% inflation the fourth highest in Sub-Saharan Africa – World Bank report

2 years ago
in Business, Economy, Features, highlights, Home, home-news, latest News
1 min read
0 0
0
75
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Ghana’s 40.1% inflation the fourth highest in Sub-Saharan Africa – World Bank report

In the latest revelation from the World Bank’s October 2023 Africa Pulse Report, Ghana finds itself grappling with an inflation rate of 40.1%, securing the unenviable position of the fourth-highest inflation rate in Sub-Saharan Africa for the year.

Inflation in the region is topped by Zimbabwe, boasting an inflation rate exceeding 80%, trailed by Sudan at 60%, and Sierra Leone at 42%.

The report underscores that the relentless ascent of food and energy prices continues to be a driving force behind headline inflation in numerous countries across the region.

By July 2023, a significant observation emerged as nearly half of the countries in the region, armed with monthly data on food prices (20 out of 41 nations), reported double-digit year-on-year rates of food inflation. The swiftest surges in food inflation were notably witnessed in Burundi, Ghana, Malawi, Sierra Leone, Sudan, and Zimbabwe.

On a more positive note, the report acknowledges substantial strides in the battle against inflation, with certain countries in the region successfully steering their inflation rates close to or within the central bank’s target bands. Notable mentions include Kenya, South Africa, and Uganda.

However, it is a less rosy picture in some other nations, where inflation continues to hover above target levels, displaying a prolonged period of resilience. Ghana, Nigeria, and Sierra Leone fall into this category.

RelatedPosts

Dollar Slides as Trump Fires Fed Governor Lisa Cook

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

Despite pockets of disinflation witnessed across the region, the report emphasizes that consumer price growth rates remain stubbornly elevated, surpassing targets and pre-pandemic benchmarks in various instances.

In contrast, the report underscores that four countries in the region are bracing for an acceleration in inflation of more than 10 percentage points in 2023 compared to the previous year. These nations include the Democratic Republic of Congo, Ghana, Sudan, and Zimbabwe.

In the most recent data available, Ghana’s inflation for August 2023 registers at 40.1%, reflecting a decline from the 43.1% recorded in July 2023 – marking the lowest rate observed in the past 12 months. Digging deeper, food inflation dipped to 51.9% in August 2023, down from 55.0% the prior month, while non-food inflation also receded, down 2.9% to 30.9% in August 2023.

The intricate interplay of inflation dynamics in Ghana and the broader Sub-Saharan African region continues to captivate economic observers, with both challenges and opportunities for policymakers and investors to navigate.

Tags: Ghana's 40.1% inflation the fourth highest in Sub-Saharan Africa - World Bank reportinflationWorld BankWorld Bank's October 2023 Africa Pulse Report
No Result
View All Result

Highlights

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

GSE Opens Week Higher as CPC Posts First Gain of 2025

Asante Gold Announces Completion of $500m Financing Package to Boost Bibiani and Chirano Growth Plans

Gov’t Pledges to Intensify Reforms in Gold Sector Ahead of Crucial Anti-Money Laundering Assessment

Otto Addo Expected to Announce Squad for Crucial 2026 World Cup Qualifiers

How Artificial Intelligence Is Both Driving and Derailing Decarbonization

Trending

Business

Dollar Slides as Trump Fires Fed Governor Lisa Cook

August 26, 2025

Dollar Slides as Trump Fires Fed Governor Lisa Cook President Trump has fired Federal Reserve Governor Lisa...

IISD and IMANI to Host Roundtable Shaping Ghana’s New Independent Fiscal Authority

August 26, 2025

Premier League: Ngumoha’s Late Goal Seals Liverpool’s Thrilling Win Over Newcastle

August 26, 2025

US Open: Venus Williams and Keys Bow Out as Alcaraz Launches Campaign

August 26, 2025

GSE Opens Week Higher as CPC Posts First Gain of 2025

August 26, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.