{"id":10894,"date":"2014-04-04T07:47:40","date_gmt":"2014-04-04T07:47:40","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=10894"},"modified":"2014-04-04T07:47:40","modified_gmt":"2014-04-04T07:47:40","slug":"single-inflation-will-be-met-in-2015-bog","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/04\/single-inflation-will-be-met-in-2015-bog\/","title":{"rendered":"Single inflation will be met in 2015 – BoG"},"content":{"rendered":"

\"inflation\"<\/a>The Bank of Ghana is projecting this year will end with an inflation rate of 12 percent.<\/p>\n

The new rate follows the central bank\u2019s expression of doubt that the initial target of 9.5 percent would be met.<\/p>\n

According to the Governor of the Bank of Ghana Dr Henry Kofi Wampah \u2018\u201cWith the forecast for inflation for 2014, we do not believe we will be able meet it unless there are changes.\u2019<\/p>\n

Ghana\u2019s inflation rate currently stands at 14 percent, this rate is for the month of February and it\u2019s the highest since 2010.<\/p>\n

Inflation has been increasing since last year hitting 13.5 percent far beyond government\u2019s target of 9 percent for that year.<\/p>\n

Last year\u2019s increase in inflation has been attributed to the removal of subsidies on electricity and water as well as increase in the prices of petroleum products among others.<\/p>\n

Reasons for this year\u2019s increase have not been any different.<\/p>\n

Governor of the Central Bank, Dr Henry Wampah says an evaluation of the current economic situation casts doubt on achieving the 9.5 percent target.<\/p>\n

\u201cIn assessing the outlook for inflation, the Committee noted that inflationary pressures have heightened, driven by periodic increases in fuel and utility prices, currency depreciation and supply-demand gaps in the general economy.\u2019<\/p>\n

According to Dr Wampah the Bank\u2019s latest forecasts show that inflation will only return to the target band of 9.5\u00b12 percent towards the end of the first half of 2015.<\/p>\n

\u2018The current forecast indicates we\u2019ll return in 2015. It indicates the inflation for 2014 will be around 12 percent.\u201d<\/p>\n

 <\/p>\n

By: \u00a0Kwaku Anim Boadu\/citifmonline.com\/Ghana<\/p>\n","protected":false},"excerpt":{"rendered":"

The Bank of Ghana is projecting this year will end with an inflation rate of 12 percent. The new rate follows the central bank\u2019s expression of doubt that the initial target of 9.5 percent would be met. According to the Governor of the Bank of Ghana Dr Henry Kofi Wampah \u2018\u201cWith the forecast for inflation […]<\/p>\n","protected":false},"author":14,"featured_media":10897,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[19],"tags":[4],"yoast_head":"\nSingle inflation will be met in 2015 - BoG - Citi 97.3 FM - Relevant Radio. 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