- Gains in GCB pushed the GSE-FSI to a week-on-week return of 0.15% while losses in ETI, FML and MTNGH put a -0.62% drag on the GSE-CI.
- Government fell short of its fundraising efforts as GHS 731.68m was raised out of a target amount of GHS 803m from 91 and 182-Day Bills. The 6-Year Bond issuance brought in funds of GHS 358.55m as against a target of GHS 800m.
ECONOMIC SCOOP
Inflation for June 2020 at 11.20% slightly below the May 2020 figure but remains outside the Central Bank’s target band
- Year-on-year inflation rate at the end of June was 11.20%, which was 10bps lower than the May rate of 11.30%.
- This was mainly driven by Food and non-alcoholic beverages inflation at 13.80%, although down from 15.10% in May.
- However, Non-food inflation increased from 8.40% to 9.20%.
- Imported inflation continued to fall as in recent months, closing at 4.70% in June as against 4.80% in May.
- Local inflation declined from 14.10% to 13.90% over the period.
