Ghana Inflation Rate Eases to 16-Month Low in July

The annual inflation rate in Ghana slowed to 16.7 percent in June of 2016, from 18.4 percent in the previous month. It was the lowest figure since March of 2015, driven by slower rise in cost of housing and utilities and transport due to stable cedi.

Compared to July 2015, prices went up at slower rate for transport (27.2 percent from 40.3 percent); housing and utilities (25.4 percent from 32.8 percent), while cost of food and non-alcoholic beverages went up at same pace (8.6 percent). Other upward pressure came from: clothing and footwear (24.3 percent from 22.6 percent); recreation and culture (28.3 percent from 27.4 percent); furnishings and household items (23 percent from 21.4 percent); education (35.4 percent from 33.3 percent); miscellaneous goods and services (17.1 percent from 15.5 percent); health (14.6 percent from 13.9 percent); hotels, cafes and restaurants (15.5 percent from 14.9 percent) and communication (13 percent from 12.5 percent).

On a monthly basis, consumer prices rose 0.9 percent, following a 1.3 percent increase in the preceding month. Cost of housing and utilities and transport both went up by 1.4 percent, while food prices fell 0.8 percent.

Ghana Statistical Service | Mojdeh Kazemi |
8/10/2016 2:08:56 PM