Ghana Inflation Rate Eases To 11.9% In July


The inflation rate in Ghana declined to 11.9 percent in July of 2017 from 12.1 percent in May. The annual inflation rate fell for the third consecutive month to the lowest inflation rate since September of 2013, on the back of a stable cedi and easing non-food prices, namely transport. The country is committed to lowering inflation to 11.2 percent by the end of the year to restore restore macroeconomic stability under a three year assistance programme with the IMF.

Year-on-year, cost went up at a slower pace for: housing and utilities (6.2 percent vs 7.1 percent in June); clothing and footwear (15.7 percent vs 16.6 percent); transport (22 percent vs 23.1 percent); miscellaneous goods and services (14.8 percent vs 15.4 percent);  furniture and household equipment (18.7 percent vs 20.6 percent); education (9.3 percent vs 11 percent); recreation and culture (19.2 percent vs 20.8 percent); communication (9.6 percent vs 11.1 percent); health (13.8 percent vs 14.3 percent) and alcoholic beverages and tobacco (11.5 percent vs 11.7 percent).

Conversely, prices advanced faster for food and non-alcoholic beverages (7.2 percent vs 6.2 percent), including meat and meat products (10.1 percent) and fish and seafood (14.4 percent); and also for hotels, cafes and restaurants (12.2 percent vs 12 percent).

On a monthly basis, consumer prices went up 0.7 percent, easing from a 0.9 percent increase in June.

Ghana Statistical Service |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/17/2017 8:13:47 AM