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Deconstructing Food Inflation in Ghana, An ERPT Analysis

Mrad, Edgar LU (2026) NEKN01 20252
Department of Economics
Abstract (Swedish)
This thesis examines exchange-rate pass-through (ERPT) to food inflation in
Ghana with a focus on domestic transmission channels. Using monthly data, it
estimates dynamic reduced-form equations for food inflation and for a set of producer,logistics, transport, and energy-related cost measures. The results show that exchange-rate depreciation passes through meaningfully to food inflation over several months. The strongest and earliest responses are found upstream, especially in manufacturing PPI and transportation-and-storage PPI. Among the broader consumer-facing channels, transport CPI appears more informative for final food inflation, while the HWEGF measure appears much weaker. Brent pass-through is also examined and is found to be... (More)
This thesis examines exchange-rate pass-through (ERPT) to food inflation in
Ghana with a focus on domestic transmission channels. Using monthly data, it
estimates dynamic reduced-form equations for food inflation and for a set of producer,logistics, transport, and energy-related cost measures. The results show that exchange-rate depreciation passes through meaningfully to food inflation over several months. The strongest and earliest responses are found upstream, especially in manufacturing PPI and transportation-and-storage PPI. Among the broader consumer-facing channels, transport CPI appears more informative for final food inflation, while the HWEGF measure appears much weaker. Brent pass-through is also examined and is found to be selective, appearing more clearly in producer
prices than in broad consumer-facing transport and energy costs. Taken together, the findings are consistent with a staged transmission process in which exchangerate shocks are absorbed first through domestic production and logistics costs before being fully reflected in final food prices. (Less)
Please use this url to cite or link to this publication:
author
Mrad, Edgar LU
supervisor
organization
course
NEKN01 20252
year
type
H1 - Master's Degree (One Year)
subject
language
English
id
9224967
date added to LUP
2026-04-07 13:34:13
date last changed
2026-04-07 13:34:13
@misc{9224967,
  abstract     = {{This thesis examines exchange-rate pass-through (ERPT) to food inflation in
Ghana with a focus on domestic transmission channels. Using monthly data, it
estimates dynamic reduced-form equations for food inflation and for a set of producer,logistics, transport, and energy-related cost measures. The results show that exchange-rate depreciation passes through meaningfully to food inflation over several months. The strongest and earliest responses are found upstream, especially in manufacturing PPI and transportation-and-storage PPI. Among the broader consumer-facing channels, transport CPI appears more informative for final food inflation, while the HWEGF measure appears much weaker. Brent pass-through is also examined and is found to be selective, appearing more clearly in producer
prices than in broad consumer-facing transport and energy costs. Taken together, the findings are consistent with a staged transmission process in which exchangerate shocks are absorbed first through domestic production and logistics costs before being fully reflected in final food prices.}},
  author       = {{Mrad, Edgar}},
  language     = {{eng}},
  note         = {{Student Paper}},
  title        = {{Deconstructing Food Inflation in Ghana, An ERPT Analysis}},
  year         = {{2026}},
}