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Impact of coronavirus (COVID-19) on projected inflation in Ghana in 2020 and 2021

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Source

Release date

July 2020

Region

Ghana

Survey time period

2020 and 2021

Supplementary notes

The source adds the following information: "The baseline scenario assumes that the pandemic subsides in July, and the worst-case scenario, that it continues through December".

Citation formats

Impact of COVID-19 on projected inflation in Ghana 2020-2021

Published by Zeynep Dierks, Jan 7, 2021
The coronavirus (COVID-19) pandemic was projected to affect Ghana's rate of inflation. The inflation rate was estimated at *** percent for 2020 and *** percent for 2021, before the outbreak of the virus. However, due to the pandemic, inflation projections in the country amounted to **** percent and *** percent for 2020 and 2021, respectively (under a baseline scenario). Furthermore, on the assumption that the COVID-19 pandemic got even worse, the rate of inflation was revised at **** percent and **** percent. It can therefore be seen that the studied impact was estimated to increase both under baseline and worst-case scenarios of COVID-19.

Overall, on August 1, 2020, the highest daily increase in cases was recorded in Ghana.
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