Ghana Inflation Rate Lowest Since 2013


Consumer prices in Ghana increased 11.6 percent year-on-year in October of 2017, easing from a 12.2 percent rise in the previous month. It is the lowest rate since August of 2013, mainly due to a slowdown in transport (18.5 percent compared to 21.9 percent in September) and health (4.8 percent compared to 12.7 percent). The country is following a credit program with the International Monetary Fund that targets to shrink the inflation to 8 percent +/- 2 percentage points and restore the fiscal balance in 2018.

Year-on-year, prices advanced at a slower pace for the non-food group (13.2 percent compared to the 14.1 percent in September), namely transport (18.5 percent compared to 21.9 percent in September); recreation and culture (16.8 percent compared to 18.7 percent); furnishings and household equipment (14.4 percent compared to 17.6 percent); miscellaneous goods and services (14.5 percent compared to 15.4 percent) and health (4.8 percent compared to 12.7 percent). On the other hand, prices rose faster for clothing and footwear (17.1 percent compared to 16.2 percent); housing and utilities (6.9 percent compared to 6.1 percent); restaurants and hotels (11.9 percent compared to 11.4 percent); and communication (10 percent compared to 9.5 percent) and education (9.3 percent compared to 9.2 percent).

Food inflation rose to 8.2 percent from 8.1 percent. Prices went up faster for fish and sea food (16.1 percent compared to 14.6 percent) and cereals and cereals products (7.5 percent compared to 6.8 percent).

On a monthly basis, consumer prices increased 0.9 percent after a flat reading in September.

Ghana Inflation Rate Lowest Since 2013


Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/8/2017 6:16:32 PM