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Inflation Dynamics in Ghana

Author

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  • Victor Osei

Abstract

The study sought to investigate the key factors that influence inflation dynamics in Ghana. The study found that inflation in Ghana is determined primarily by inflation persistence, reflecting price expectations, domestic food prices, petroleum prices and exchange rate. The other determinants of inflation used in this study such as money supply and world food prices weakly affect domestic inflation. The study also recommended that anchoring inflation expectations and managing exchange rate misalignment remains key policy strategies in any effort and attempt by the monetary authorities to achieving and maintaining price stability in the country coupled with moderating the negative effects of other inflation determining factors.

Suggested Citation

  • Victor Osei, 2015. "Inflation Dynamics in Ghana," International Finance and Banking, Macrothink Institute, vol. 2(1), pages 38-59, June.
  • Handle: RePEc:mth:ifb888:v:2:y:2015:i:1:p:38-59
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    File URL: http://www.macrothink.org/journal/index.php/ifb/article/view/7913/6452
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    File URL: http://www.macrothink.org/journal/index.php/ifb/article/view/7913
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    References listed on IDEAS

    as
    1. Mame Astou Diouf, 2007. "Modeling Inflation for Mali," IMF Working Papers 07/295, International Monetary Fund.
    2. Francis Gyebi & Godfried K. Boafo, 2013. "Macroeconomic Determinants Of Inflation In Ghana From 1990 €“ 2009," International Journal of Business and Social Research, MIR Center for Socio-Economic Research, vol. 3(6), pages 81-93, June.
    3. Jean-Claude Nachega, 2001. "Financial Liberalization, Money Demand, and Inflation in Uganda," IMF Working Papers 01/118, International Monetary Fund.
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    Cited by:

    1. Philip Kofi Adom & William Bekoe & George Quartey & Kwaku Amakye & Charles Barnor, 2016. "Impact of Market-based Policies and External Fiscal Discipline on Ghana's Inflation," Review of Development Economics, Wiley Blackwell, vol. 20(4), pages 794-816, November.

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