ACCRA (Reuters) - Annualised inflation in Ghana eased slightly to 9.44 percent in August from 9.46 percent in July, the 14th consecutive monthly decline, the country's statistics office said on Wednesday.
The announcement comes ahead of a meeting of the Bank of Ghana's rate-setting Monetary Policy Committee next week. A series of cuts have left the prime policy rate at 13.5 percent, its lowest level since January 2008.
"There is still room for further easing, and we anticipate a somewhat more cautious 50-basis-points cut at the September MPC meeting," said Razia Kahn at Standard Chartered Bank.
"For now at least, seasonal influences -- the favourable impact on food prices at this time of the year -- are in all likelihood helping to keep month-on-month increases in inflation in check. This should continue into September as well."
Annualised food inflation in August stood at 5.3 percent, Ebo Duncan, Director of Economic Statistics at the national statistics office, told a news briefing in Accra.
Source: Reuters
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