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Gov’t misses 11% inflation target

Ghana consumer price inflation was roughly flat at 11.8 percent in December, compared with 11.7 percent in November, the statistics office said on Wednesday.

The oil, gold and cocoa exporter is following a $918 million credit programme with the International Monetary Fund that aims to restore fiscal balance and narrow inflation to 11.8 percent plus or minus 2 percentage points in 2018.

The government had projected end-of-year inflation of 11.2 percent for 2017.

Non-food inflation remained flat at 13.6 percent in December while food inflation edged up to 8.0 percent from 7.9 percent in the previous month.

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