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Pulse Business Wrap Inflation hits 17.7% for December 2015

This represents a marginal increment of 0.1% on the 17.6% recorded for November 2015.

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Hello, good evening and welcome to the Pulse Business Wrap.

Here are our headline stories for today

 Inflation hits 17.7% for December 2015

The Ghana Statistical Service  has pegged the inflation rate for the month of December 2015 at 17.7%.

This represents a marginal increment of 0.1% on the 17.6% recorded for November 2015.

Ashanti Region recorded the highest year-on-year rate of 19.2%  while the Upper East Region recorded the lowest rate of 13.7% in the month under review.

 

1% withholding tax on interest suspended

 

Elsewhere,the Ghana Revenue Authority has directed the suspension of 1% withholding tax on interest earned by individuals in a press statement issued in Accra today.

The suspension is in response to government's proposals to parliament to repel the law following public backlash after banks sent out text messages to customers informing them about the new law.

 

On the currency market, 

Currency                    Buying                                   Selling

Dollar                           3.79                                       3. 90

Pound Sterling              5.56                                       5.60

Euro                         4.1                                              4.42

 

To updates from the stock exchange today, 

Ghana Commercial Bank experienced the biggest loss of the day, dropping  3p to close at 3.75p, whereas Benso Oil Palm Plantation recorded the biggest gain, earning 26p to close at 2.80 p.

 

And that's a wrap for business for today. For more log on to the website pulse.com.gh

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