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Inflation is an increase in the overall price level. The official inflation rate tracks changes the consumer price index (CPI). The CPI monitors computes the cost of living over time (cost of a market basket of goods purchased by a typical family that lives in an urban area), while inflation measures a sustained increase in the overall price level in the economy, which reduces the purchasing power of a unit of currency (e.g. dollar, Yen, Ghana cedi). The CPI can also be used to calculate inflation.
Source: GSS, Bank of Ghana, Commercial banks, IMF, World Bank, AfDB
Source: GSS, Bank of Ghana, Commercial banks, IMF, World Bank, AfDB
Source: GSS, Bank of Ghana, Commercial banks, IMF, World Bank, AfDB
