Ghana’s inflation rate for September reduced by 2%

Inflation for the month of September 2023 fell to 38.1% from the 40.1% recorded in August 2023. According to figures from the Ghana Statistical Service, both food and non-food inflation dropped. Whilst food inflation declined to 49.4% from the 51.9% recorded in August 2023, non-food inflation also decreased to 29.3% from the 30.9% recorded in August 2023. Inflation for locally produced items was estimated at a rate of 37.3% while that of imported products was 39.9%. The month-on-month inflation between August 2023 and September 2023 was, however, 1.9%. Government Statistician, Professor Samuel Kobina Annim, attributed the decline to the tight monetary policy measures by the Bank of Ghana.

🚩The Securities and Exchange Commission (SEC) has said that the delay in payment of bailout funds to affected customers of Blackshield Fund Management Company Limited (formerly Gold Coast Fund Management Limited) is not due to refusal from the Ministry of Finance (MoF) to release the funds. In a statement issued by the Commission on October 10, it explained that the “delay is principally due to the legal action by Blackshield/Gold Coast contesting the liquidation petition brought by the Official Liquidator (Office of the Registrar of Companies) at the request of SEC following the revocation of licences.” The Commission however said it will continue to support the Official Liquidator in pursuing the liquidation petition in court.

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INTERBANK FOREX RATES 💴💰
US$GH¢ Buy 11.2531 Sell 11.2643
GB£GH¢ Buy 13.8266 Sell 13.8427
CHFGH¢ Buy 12.4508 Sell 12.4631
AUD$GH¢ Buy 7.2355 Sell 7.2453
CAD$GH¢ Buy 8.2839 Sell 8.2925
JP¥GH¢ Buy 0.0757 Sell 0.0758
NZDGH¢ Buy 6.7986 Sell 6.8079
ZARGH¢ Buy 0.5917 Sell 0.5923
EU€GH¢ Buy 11.9494 Sell 11.9623
CHN¥GH¢ Buy 1.5436 Sell 1.5437
GH¢CFA Buy 54.8354 Sell 54.8946
GH¢NG₦ Buy 67.6570 Sell 68.0825

CRYPTOCURRENCY MARKET
Bitcoin $26,853.06 🔻0.94%
Ethereum $1,563.19 🔻0.39%
Binance Coin $205.87 🔻0.15%
Ripple $0.4841 🔻0.96%
Solana $21.79 🔻1.69%
Cardano $0.2465 🔻0.20%
Dogecoin $0.05831 🔻1.22%

💵Bloomberg USDGHS Cross Rate – *11.7550* (YTD -🔺️13.23%)

💰STANBIC BANKFOREX RATES💵
US$GH¢ Buy 11.3600 Sell 11.8000
GB£GH¢ Buy 13.8887 Sell 14.6438
EU€GH¢ Buy 11.9848 Sell 12.5599
CH¥GH¢ Buy 1.5524 Sell 1.6259

🔼GSE DAILY GAINERS ➖ PRICE ➖ %CHANGE
GCB ➡️Gh¢3.51 🔼+0.29%

🔻GSE DAILY LOSERS ➖ PRICE ➖ %CHANGE
GOIL ➡️Gh¢1.50 🔻-1.32%

〽Inflation rate in Ghana ➡️38.10%

🏦Ghana Reference Rate ➡️ 31.09%

✳Policy Rate in Ghana ➡️ 30.00%

¶ TREASURY RATES💸
91 – Day Discount Rate 27.2088% Interest Rate 29.1947%
182 – Day Discount Rate 27.0010% Interest Rate 31.2152%
364 – Day Discount Rate 24.8206% Interest Rate 33.0152%

🛢Petroleum Products – Average Price
🏗Petrol – Gh¢13.49/ltr (YTD 🔺️+8.79%)
🛢Diesel – Gh¢13.95/ltr (YTD 🔼-4.45%)
⛽LPG – Gh¢12.45/kg (YTD-🔺️+35.33%)

🏧MARKET INDEXES
*Dow Jones Index🚂⛽ 33,804.87 +65.57 +0.19%
*S&P 500 🏦 4,376.95 +18.71 +0.43%
*Nasdaq Index📲💻 13,659.68 +96.84 +0.71%
* NYSE Composite Index 15,487.78 +37.54 +0.24%
*London FTSE 7,620.03 -8.18 -0.11%
*Germany DAX 15,460.01 +36.49 +0.24%
*Japan NIKKEI 225 31,936.51 +189.98 +0.60%
*Tokyo TOPIX Index 2,307.84 -4.35 -0.19%
*Hong Kong HANG SENG 17,893.10 +228.37 +1.29%
*Shanghai Shenzhen 300 3,667.55 +10.42 +0.28%
*S&P/ASX 200 Index 7,088.41 +47.78 +0.68%
*Bloomsberg EU 500 291.23 -0.01 0.00%
*France CAC All-Tradable 5,297.60 -22.42 -0.42%
*Dubai DFM General Index 4,082.24 +31.12 +0.77%
*MOEX Russia Index 3,194.12 +17.09 +0.54%
*FTSE/JSE South Africa 68,080.50 -38.54 -0.06%
*Nairobi SE 20 Share 1,487.20 -8.94 -0.60%
*Nigeria SE Main 67,100.49 +115.87 +0.17%
*BBG EMEA World Index 198.75 -0.27 -0.14%
*GSE Composite Index 3,141.41 -0.58 -0.02%
*GSE Financial Index 2,118.55 +0.32 +0.02%
*GSE Composite Index 3,141.18 0.48 0.02%
*GSE Financial Index 1,947.53 0.46 0.02%

GSE INDEXES ⏸ 2023 YTD RETURNS%
*GSE Composite Index 3,141.18 🔼+28.55%
*GSE Financial Index 1,947.53 🔻-5.14%

🔼GSE 2023 GAINERS ➖ PRICE ➖ YTD%
BOPP ➡️Gh¢18.63 🔼+143.53%
TOTAL ➡️Gh¢9.00 🔼+125.00%
UNIL ➡️Gh¢8.10 🔼+108.76%
GGBL ➡️Gh¢3.40 🔼+65.85%
MTNGH ➡️Gh¢1.40 🔼+59.09%

🔻GSE 2023 LOSERS ➖ PRICE ➖ YTD%
CAL ➡️Gh¢0.50 🔻-23.08%
EGL ➡️Gh¢2.41 🔻-24.69%
ACCESS ➡️Gh¢3.40 🔻-15.21%
SIC ➡️Gh¢0.24 🔻-22.58%
EGH ➡️Gh¢5.30 🔻-20.18%

COMMODITIES MARKET
*Brent Crude USD/barrel⛽85.82 -1.83 -2.09%
*Natural Gas 🏭 USD/millon BTUS 3.39 +0.01 +0.38%
*Gold 👑 USD/troy ounce 1,887.90 +0.60 +0.03%
*Silver 💍 USD/troy ounce 22.21 +0.07 +0.33%
*Corn 🌽 USd/bushel 488.00 +2.50 +0.51%
*Cocoa 🍫 USD/metric ton 3,432.00 -42.00 -1.21%
*Coffee ☕ USd/pound 147.70+0.20
+0.14%
*Sugar🎂 USd/pound 26.40-0.65
-2.40%
Rubber USd/100kg 144.80+3.50
+2.48%

Sources: Bank of Ghana, Bloomberg, GSE, Reuters, Citifm, Myjoyonline, Ghanaweb, Doobia, BBC, Graphic Business,