Ghana Inflation Rate Lowest Since November 2013


The annual inflation rate in Ghana slowed to 13.3 percent in January of 2017 from 15.4 percent in the previous month. It was the lowest inflation rate since November of 2013, as non-food cost rose at a slower pace namely for housing and utilities and transport and food prices also increased less.

Non-food inflation fell to 16.6 percent (18.2 percent in the previous month) as cost increased at slower pace for housing and utilities (4.4 percent from 20.2 percent), transport (24.6 percent from 27.2 percent) and health (18.2 percent from 18.5 percent).

Additional upward pressure came from: education (25.1 percent from 23.4 percent), recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.1 percent from 18.8 percent), clothing and footwear (18 percent from 16.4 percent), miscellaneous goods and services (15.9 percent from 14.7 percent), hotels, cafés and restaurants (13.3 percent from 13.7 percent), alcohol beverages and tobacco (13.7 percent from 13.5 percent) and communication (12.6 percent from 10.8 percent).

Moreover, prices of food and non-alcoholic beverages items increased at a slower 7 percent from 9.7 percent in December, namely vegetables (1.6 percent from 5.5 percent), milk and cheese products (4.6 percent from 6.9 percent), fruits (5.4 percent from 9.2 percent), meat and meat products (11.6 percent from 15 percent) and coffee, tea and cocoa (7.8 percent from 14 percent).

On a monthly basis, consumer prices jumped 2.8 percent, following a 0.9 percent increase in the previous month.

Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com
2/15/2017 2:38:18 PM