Ghana Inflation Rate Rises Further in April


Ghana’s annual inflation rate accelerated for the eight straight month to 14.7 percent in April of 2014, from 14.5 in the previous month, as the cedi depreciation affected prices of most imported items.

Year-on-year, prices accelerated for alcoholic beverages and tobacco (12.5 percent from 12.4 percent in March), housing, water, electricity, gas and other fuel (50.5 percent from 43.8 percent), communication (7.2 percent from 5.0 percent), education (7.6 percent from 7.2 percent), health (14.5 percent from 13.4 percent), recreation and culture (14.3 percent from 13.8 percent). In contrast, prices slowed for food and non-alcoholic beverages (7.0 percent from 8.2 percent), furnishing, housing equipment and maintenance (11.0 percent from 11.4 percent), transport (26.5 percent from 27.3 percent), hotels, cafés and restaurants (6.1 percent from 6.5 percent), clothing and footwear (14.9 percent from 16.7 percent).

On a monthly basis, consumer prices rose 1.7 percent in April , following a 0.9 percent increase in the previous month. Prices of food and non-alcoholic rose 1.5 percent in April (0.6 percent in March), and housing, water, electricity, gas and other fuel cost increased 4.7 percent, up from 3.5 percent in the previous month.

For 2014, the government targets inflation at 9.5 percent, plus or minus 2 percent.

Ghana Inflation Rate Rises Further in April


Isabel Felino | isabel.felino@tradingeconomics.com
5/14/2014 3:56:57 PM