Ghana Inflation Rate Rises Slightly to 17.4%
Consumer prices in Ghana increased by 17.40 percent year-on-year in September, up from 17.3 percent in the previous month and above market expectations. The rise was boosted by higher housing and utilities, education and food prices.
Compared to September 2014, food and non-alcoholic beverages rose by 7.8 percent from 7.7 percent in August, with vegetables edged up 13.6 percent. The non-food products increased 23.2 percent, with education prices up by 29.6 percent; housing, water, electricity, gas and other fuels 23.6 percent; recreation and culture 27 percent; clothing and footwear 24.9 percent and transport 23.8 percent.
On a monthly basis, consumer prices decreased 0.1 percent, compared to 0.7 percent drop in August.
The inflation continues the upward trend since the beginning of the year and follows economic slowdown since the last quarter of 2014, due to lower commodity prices and a fiscal crisis that has led the country to sign a three-year aid deal with the IMF in April this year.
10/21/2015 10:47:58 AM