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Kofi Ahovi

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NDC to prioritise private sector-led Initiatives in next government, says Isaac Adongo

The National Democratic Congress (NDC) has announced plans to introduce more private-sector…

Kofi Ahovi

Ghana Card: Over 100k people being investigated for multiple registration

The National Identification Authority (NIA) has disclosed that more than 100,000 Ghanaians…

Kofi Ahovi

Starlink adds new outside region fee to combat unauthorized users

Starlink, the satellite internet network developed by SpaceX, has instituted a new…

Kofi Ahovi

Starlink set to launch operations in Ghana by August ending

Elon Musk’s satellite internet service, Starlink is set to officially commence operations…

Kofi Ahovi

Cedi depreciation to continue; depreciates 24.5% to dollar since January 1, 2024

The recent depreciation of the Ghana cedi against the major foreign currencies…

Kofi Ahovi

Inflation to increase to 21.8% in August 2024 – ReportInflation is expected to surge to 21.8% in August 2024, IC Securities has predicted. According to the investment firm, this is due to unfavourable base effect. However, month-on-month inflation will ease. “Although the sharper-than-expected deceleration in the July 2024 annual inflation significantly eases our concerns, we remain convinced that the August print will witness an upturn, stressing the need for caution in lower inflation and interest rate outlooks”, it disclosed in its analysis of the outlook of inflation. It pointed out that in August 2023 it observed an unexpected contraction in the Consumer Price Index (CPI) levels by 0.4 points, which resulted in a 300 basis points decline in annual inflation. As, such, given the unconventional nature of a CPI contraction in August, it expects an increase in the CPI level for August 2024, albeit a modest rise capped by food harvest. Tricks For More Cloud Storage Below Running low on phone storage? Expand Your Cloud Storage Now Cloud Storage Deals | Ads “We opine that even a slight increase in the August 2024 CPI will nudge annual inflation. Additionally, we foresee upside risk from the spillover effect of the utility tariff hike in July 2024 although the relatively stable Cedi could partly numb the impact. Consequently, we forecast annual inflation at 21.8% (+90bps) while the m/m [month-on-month] rate declines to 0.5% in August 2024”. Ghana’s headline inflation surprised to the downside with a faster-than-expected decline of 190 basis points to 20.9% in July 2024. It represented the fourth consecutive month of decline in annual inflation and marked the longest streak of disinflation since second-half year of 2023. Policy rate cut in offing Meanwhile, IC Securities said the wider real interest rate opens the door for rate cuts but the abundance of caution and Treasury’s borrowing needs will limit the dovish sentiments.

Inflation is expected to surge to 21.8% in August 2024, IC Securities…

Kofi Ahovi

USAID and Partners host Youth Forum to commemorate International Youth Day

The United States Government has collaborated with the Government of Ghana’s Youth…

Kofi Ahovi

DBG targets more than GH¢1bn agric funding from 2025

The Development Bank Ghana (DBG) has revealed that the Agricultural Sector will…

Kofi Ahovi

Cedi hits GH¢16 to a dollar on retail market

The Ghana cedi has hit the GH¢16 mark to a dollar on…

Kofi Ahovi

T-bills auction: Government misses target again, but interest rates ease

For the seventh consecutive week, the government missed its auction target for…

Kofi Ahovi