Headline inflation in Ghana has climbed for the third consecutive month, prompting caution from the Bank of Ghana as transport and haulage costs continue to drive price increases.
Governor Dr. Johnson Pandit Asiama, speaking at the opening of the 131st Monetary Policy Committee (MPC) meeting, disclosed that inflation rose from 3.2 percent in March to 5.3 percent in June. He attributed the upward trend largely to higher fuel and logistics expenses, which have filtered through to consumer prices.
“The sustained rise in transport and haulage costs is exerting significant pressure on headline inflation,” Dr. Asiama noted, stressing that the central bank is closely monitoring developments to safeguard economic stability.
The MPC meeting comes at a critical time, as policymakers weigh options to contain inflation while supporting growth. Analysts suggest that the Bank of Ghana may consider tightening measures if the upward trajectory persists, though officials remain cautious about balancing inflation control with the need to sustain business activity.
The inflationary surge has raised concerns among households and businesses, particularly in urban centers where transport costs form a substantial portion of daily expenditure. Economists warn that prolonged increases could erode purchasing power and complicate fiscal planning.
The Bank of Ghana is expected to outline further policy directions at the conclusion of the MPC meeting later this week.
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