Ghana Inflation Rate Lowest Since November 2013

The annual inflation rate in Ghana slowed slightly to 13.2 percent in February of 2017 from 13.3 percent in the previous month. It was the lowest inflation rate since November of 2013 mainly due to a decline in the price of fuel.

Non-food inflation fell to 16.4 percent (16.6 percent in the previous month) as cost increased at slower pace for transport (23.3 percent from 24.6 percent), miscellaneous goods and services (15.3 percent from 15.9 percent), clothing and footwear (17.8 percent from 18 percent), education (19.6 percent from 25.1 percent) and health (17.1 percent from 18.2 percent).

Additional upward pressure came from: recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.5 percent from 22.1 percent), hotels, cafés and restaurants (13.9 percent from 13.3 percent), alcohol beverages and tobacco (13.9 percent from 13.7 percent) and communication (10.8 percent from 12.6 percent).

Meanwhile, prices of food and non-alcoholic beverages items rose faster by 7.1 percent from 7 percent in January, namely fish and sea food (14.3 percent), meat and meat products (11.2 percent), mineral water, soft drinks, fruit and vegetable juices (7.9 percent) and coffee, tea and cocoa (7.4 percent).

On a monthly basis, consumer prices increased 0.6 percent, following a 2.8 percent gain in the previous month.

Ghana Inflation Rate Lowest Since November 2013

Deborah Neves |
3/15/2017 1:50:48 PM