BoG predicts 6% inflation in March 2014

The Bank of Ghana is projecting inflation within the band of 6 and 10 percent by the end of March next year.

It has already projected 11.5 percent end year inflation while government is targeting between 7 and 11 percent rate.

The Central Bank’s latest forecast is based on the exchange rate, energy prices, crude oil assumptions and the fiscal policy stance.

Inflation dropped for the first time this year to record a rate of 11.5 percent in August.

The relative stability of the Ghana Cedi to the US Dollar appeared to have impacted on the decline of the price levels.

This is because the non food inflation went down from 15.4 percent in July to 14.2 percent in August.

However, the food inflation went up despite the beginning of the food harvest season. The monthly change for August was -0.7 percent.