Ghana ends 2012 with 8.8% inflation rate but misses year-end target on slim margin

Ghana missed its inflation target of 8.5% for the year 2012 even though the rate dropped to 8.8% in December from November’s 9.3%, according to figures released by the Ghana Statistical Service today January 9, 2013.

In the 2012 budget read by Finance Minister, Dr Kwabena Duffour, November 16, 2011, an end-period inflation target of 8.5% for 2012 was set.

Ghana throughout 2012 recorded single-digit inflation, a rate the Finance Ministry was optimistic about.

The last time the country recorded an 8.8% inflation rate in 2012 was in March.

Ghana’s 2011 year-end inflation was 8.58% which was within the central bank’s expected target of 9%.

By Ekow Quandzie