Ghana Inflation Rate at 6-Month Low of 18.4%
Ghana Inflation Rate Accelerates to 18.9% in May
Ghana Inflation Rate Slows to 18.7% in April
Ghana Inflation Rate Slows to 18.5% in February
Ghana Inflation Rate at Nearly 6-1/2 Year High
Annual inflation rate in Ghana accelerated to 19.2 percent in March of 2016 from 18.5 percent in the previous month. It is the highest figure since August 2009, mainly due to a jump in price of transport.
The annual inflation rate in Ghana eased to 18.40 percent in June of 2016, from 18.9 percent in the previous month. It was the lowest reading since December of 2015, as stability of the cedi led to slower rise in cost of fuel and imported items. Non-food inflation slowed to 24.1 percent (+25 percent in May), while food inflation edged up to 8.6 percent (+8.5 percent).
Inflation Rate in Ghana averaged 17.17 percent from 1998 until 2016, reaching an all time high of 63 percent in March of 2001 and a record low of 0.40 percent in May of 1999. Inflation Rate in Ghana is reported by the Ghana Statistical Service.
In Ghana, the most important components in the Consumer Price Index (CPI) are Food and Non Alcoholic Beverages (43.6 percent of total weight); Housing, Water, Electricity, Gas and Other Utilities (9.5 percent) and Clothing and Footwear (8.9 percent).
Transport account for 7.2 percent of total index, Miscellaneous Goods and Services for 7 percent, Hotels, Cafés and Restaurants for 6 percent and Furnishing and Household Equipment for 4.6 percent. Education represents 3.8 percent of total weight, Recreation and Culture another 2.7 percent and Communication 2.6 percent. Health accounts for the remaining 2.4 percent and Alcoholic Beverages, Tobacco and Narcotics 1.6 percent.
This page provides – Ghana Inflation Rate – actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Inflation Rate – actual data, historical chart and calendar of releases – was last updated on August of 2016.
The annual inflation rate in Ghana eased to 18.40 percent in June of 2016, from 18.9 percent in the previous month. It was the lowest reading since December of 2015, as stability of cedi led to slower rise in cost of fuel and imported items.
Compared to June 2015, prices rose at slower pace for transport (40.3 percent from 40.9 percent); housing and utilities (32.8 percent from 35.7 percent), while cost of food and non-alcoholic beverages went up at faster pace(8.6 percent from 8.5 percent in May). Other contributors to the rise: clothing and footwear (22.6 percent from 22.8 percent); recreation and culture (27.4 percent from 27.9 percent); furnishings and household items (21.4 percent from 21.8 percent); education (33.3 percent from 32.3 percent); miscellaneous goods and services (15.5 percent from 15.4 percent); health (13.9 percent from 13.9 percent); hotels, cafes and restaurants (14.9 percent from 14.4 percent) and communication (12.5 percent from 13.3 percent).
On a monthly basis, consumer prices increased 1.3 percent, following a 1.1 percent rise in May. Food prices went up by 1.5 percent, housing and utilities rose by 0.9 percent, transport increased by 1.1 percent.
Source: GHANASKY.COM but credit to World Bank and trading economics