Oil price rise, currency drop raise inflation threat in Ghana

The combination of rising oil prices and the fall in Ghana’s currency is threatening to push up inflation, the country’s central bank Governor Ernest Addison said on Tuesday.

“Petroleum prices have gone up and transportation costs are also picking up, so we think that there is a threat to the outlook in terms of where the inflation will be,” Addison said.

“But we are not looking at an immediate departure from our targets,” he added.