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Temporary respite: On latest retail inflation and industrial output data


Price stability must be maintained even as steps to boost demand are taken
The latest retail inflation and industrial output data from the National Statistical Office (NSO) offer some relief from the pall of gloom cast by the relentless second wave of the COVID-19 pandemic. Provisional headline inflation slowed to a three-month low of 4.29% in April, helped by softer food prices and a statistical base effect. The rate using an imputed index for the year-earlier period was 7.22%. A separate NSO release showed March industrial output jumped by 22.4%, benefiting again from the fact that the Index of Industrial Production (IIP) had posted an 18.7% contraction in March 2020, when the economy was halted by the start of a nationwide lockdown. A closer look at the inflation data reveals a substantial cooling in the prices of cereals, milk and milk products, vegetables, and pulses and products. While both cereals and vegetables saw a deflationary trend widen to -2.96% and -14.2%, resp ....

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CIDAN Market Research WE 11-12-20


Republi Bank (Ghana) Ltd. -26.79%
Benso Oil Palm Plantation -30.07%
CURRENCY MARKET
The Cedi weakened against the USD for the week. It traded at GH¢5.7145/$ on Friday, against GH¢5.7139/$ at week open, reflecting w/w and YTD depreciations of 0.01% and 3.16% respectively against the USD. This compares with YTD depreciation of 12.97% a year ago.
The Cedi however strengthened against the GBP on the week. It traded at GH¢7.5535/£, compared with GH¢7.7082/£ at week open, reflecting w/w appreciation and YTD depreciation of 2.05% and 3.14% respectively against the GBP. This compares with YTD depreciation of 16.36% a year ago.
The Cedi also strengthened against the Euro. It traded at GH¢6.9206/€, compared with GH¢6.9409/€ at week open, reflecting w/w appreciation and YTD depreciation of 0.29% and 10.25% respectively against the Euro. This compares with YTD depreciation of 10.62% a year ago. ....

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