Higher fuel prices
pushed inflation in Ghana higher in February for the second month in a
row, according to data on Wednesday that heightened speculation over a
possible monetary tightening.
Annual inflation
rose to 9.16 per cent from 9.08 per cent in January, the second monthly
rise after 19 months of falls. It was expected after the government
implemented a 30 percent hike in the price of petrol in January to
boost tax revenues.
“We will see it
(the effect of fuel price hike) for one whole year,” government
statistician Grace Bediako told a news conference, saying that total
non-food inflation was 12.12 per cent while food items rose just 4.59
per cent.
