Wednesday July 10 2019
Ghana Inflation Rate at 5-Month Low of 9.1%
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana fell to 9.1 percent in June 2019 from 9.4 percent in the previous month. It was the lowest inflation rate since January, as prices rose slightly less for both food and non-food products.

Year-on-year, prices slowed for food & non-alcoholic beverages (6.5 percent vs 6.7 percent in May), of which oils & fats (4.8 percent vs 5.2 percent); mineral water, soft drinks, fruit and vegetable juices (7.2 percent vs 8 percent); fish and sea food (5.4 percent vs 5.9 percent); vegetables (8.2 percent vs 8.4 percent) and fruits (10.7 percent vs 10.9 percent).

Meantime, inflation dropped for non-food products (10.3 percent vs 10.6 percent), as cost rose less for transport (6.9 percent vs 12.5 percent) and increased at the same pace for education (6.2 percent) and recreation & culture (15.0 percent). In contrast, prices went up at a faster pace for other items such as housing & utilities (6.8 percent vs 6.5 percent); clothing & footwear (15.2 percent vs 15.0 percent); miscellaneous goods & services (11.3 percent vs 9.5 percent) and hotels, cafes & restaurants (9.5 percent vs 9.2 percent).

On a monthly basis, consumer prices increased 0.8 percent, following a 0.9 percent rise in the previous month. It was the lowest monthly inflation rate since November last year.




Thursday June 20 2019
Ghana GDP Annual Growth Rate at 6.7% in Q1
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The economy of Ghana advanced 6.7 percent year-on-year in the first quarter of 2019, following a 6.8 percent growth in the previous period, mainly boosted by services and the industrial sector.

The services sector expanded 7.2 percent, faster than 5.8 percent in the fourth quarter of 2018, mainly supported by information & communication (37 percent vs 12.3 percent in Q4); health & social work (22.1 percent vs 12.5 percent); real estate (9.1 percent vs -3.1 percent); hotels & restaurants (8.6 percent vs 1.1 percent); education (8.5 percent vs 4 percent) and professional, administrative & support service activities (6.8 percent vs 5.6 percent). Meanwhile, softer rises were seen in trade, repair of vehicle and household goods (2.9 percent vs 8.6 percent); transport & storage (3.1 percent vs 3.2 percent); public administration, defense & social security (3.2 percent vs 7.3 percent) and other personal services activities (2.5 percent vs 4.4 percent). At the same time, finance & insurance grew at the same pace (at 2.1 percent).

The industrial sector performed solidly overall, advancing 8.4 percent, after a 8.9 percent rise in the previous period. Main positive contributions came from mining & quarrying (20.9 percent vs 20 percent); oil & gas (14.6 percent vs -7.2 percent); manufacturing (5.6 percent vs 1.9 percent) and electricity supply (11.1 percent vs 6.3 percent). In contrast, sharp contractions were posted in construction (-8.7 percent vs 2.5 percent) and water supply, sewerage, waste management and remediation activities (-6.4 percent vs -7.3 percent).

Agriculture grew 2.2 percent, much slower than 4.4 percent in the prior quarter, as output rose less for crops & cocoa (2.4 percent vs 6.5 percent) and it shrank for forestry & logging (-5.8 percent vs -1.1 percent) and fishing (-1.5 percent vs -19.1 percent). On the other hand, production advanced at a faster pace for cocoa (5.6 percent vs 3.7 percent) and livestock (5.5 percent vs 5.0 percent).

On a quarterly basis, the GDP advanced 1.6 percent compared to 1.7 percent in the previous quarter.




Wednesday June 12 2019
Ghana Inflation Rate Slows to 9.4% in May
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana edged down to 9.4 percent in May 2019 from 9.5 percent in the previous month. Prices slowed for food while continued to rise for non-food products.

Year-on-year, inflation softened for food & non-alcoholic beverages (6.7 percent vs 7.3 percent in April), in particular milk, cheese and eggs (3.7 percent vs 5.8 percent); cereals & cereal products (4.7 percent vs 6.8 percent); oils & fats (5.2 percent vs 7.3 percent); fish and sea food (5.9 percent vs 7 percent); meat and meat products (7.3 percent vs 8.8 percent) and mineral water, soft drinks, fruit and vegetable juices (8 percent vs 8.8 percent).

On the other hand, prices rose at a quicker pace for non-food items (10.6 percent vs 10.4 percent), driven by housing & utilities (6.5 percent vs 6.0 percent); clothing & footwear (15 percent vs 14.3 percent); furnishings (14.5 percent vs 12.8 percent); recreation & culture (15 percent vs 14.1 percent); health (7.1 percent vs 5.9 percent) and alcoholic beverages & tobacco (9.5 percent vs 8.7 percent). Meanwhile, cost slowed for transport (12.5 percent vs 13.2 percent); miscellaneous goods & services (9.5 percent vs 10 percent); hotels, cafes & restaurants (7.2 percent vs 8.1 percent); education (6.2 percent vs 7.8 percent) and communication (6.1 percent vs 6.7 percent).

On a monthly basis, consumer prices went up 0.9 percent, following a 1.1 percent rise in the preceding month.


Thursday May 16 2019
Ghana Inflation Rate Rises Further to 9.5% in April
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana rose to 9.5 percent in April 2019 from 9.3 percent in the prior month. It is the highest inflation rate since last October, as prices advanced faster for non-food products (10.4 percent vs 9.7 percent in March) while food cost slowed (7.3 percent vs 8.4 percent).

Year-on-year, prices advanced faster for non-food products (10.4 percent vs 9.7 percent in March), of which housing & utilities (6 percent vs 2.1 percent); clothing & footwear (14.3 percent vs 13.3 percent); furnishing, household equipment and routine maintenance (12.8 percent vs 12.2 percent); miscellaneous goods & services (10 percent vs 9.4 percent); hotels, cafes & restaurants (8.1 percent vs 7.5 percent); alcoholic beverages & tobacco (8.7 percent vs 7 percent); health (5.9 percent vs 5 percent) and communications (6.7 percent vs 5.8 percent).

Meanwhile, inflation slowed for transport (13.2 percent vs 13.7 percent) and education (7.8 percent vs 8.4 percent) while it remained steady for recreation & culture (at 14.1 percent).

At the same time, cost increased at a softer pace for food & non-alcoholic beverages (7.3 percent vs 8.4 percent), namely mineral water, soft drinks, fruit and vegetable juices (9.5 percent vs 11.1 percent) and meat and meat products (8.3 percent vs 9.1 percent). On the other hand, coffee, tea and cocoa (13.7 percent vs 13.0 percent) and fruits (10.4 percent vs 10.2 percent) were more expensive.

On a monthly basis, consumer prices went up 1.1 percent compared to 1.2 percent in the prior month.


Thursday April 18 2019
Ghana GDP Annual Growth Weakens to 6.8% in Q4
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Ghana's economy advanced 6.8 percent year-on-year in the fourth quarter of 2018, slowing from a 7.4 percent expansion in the previous period, mainly hit by a sharp decline in the oil and gas sector. Considering the full year of 2018, the GDP grew 6.3 percent compared to 8.1 percent in 2017.

The industrial sector grew 8.9 percent, slower than a 11.7 percent expansion in Q3, hampered by sharp declines in oil & gas (-7.2 percent vs -4.4 percent) and water supply (-7.3 percent vs -4.9 percent) and a slowdown in manufacturing (1.9 percent vs 6.5 percent). Meanwhile, faster growth was recorded in construction (2.5 percent vs 0.9 percent) and electricity supply (6.3 percent vs 5.6 percent). Mining activity remained solid overall (20 percent vs 23.9 percent).

Agriculture expanded 4.4 percent, lower than a 5.5 percent rise in the previous quarter, as production rose less for crops & cocoa (6.5 percent vs 6.8 percent) and livestock (5.0 percent vs 5.7 percent). In addition, output shrank in forestry & logging (-1.1 percent vs 0.3 percent) and fishing (-19.1 percent vs -0.8 percent). Cocoa output grew 3.7 percent, the same pace as in the previous period.

Services advanced 5.8 percent, quickening from a 3.5 percent growth in the third quarter, driven by gains in information & communication (12.3 percent vs 9.9 percent); trade, repair of vehicle and household goods (8.6 percent vs 2.9 percent); public administration, defense & social security (7.3 percent vs 2.0 percent); finance & insurance (2.1 percent vs -8.8 percent) and other personal services activities (4.4 percent vs 2.2 percent). On the other hand, growth eased in transport & storage (3.2 percent vs 4.3 percent); hotels & restaurants (1.1 percent vs 5.4 percent); professional, administrative & support service activities (5.6 percent vs 7.2 percent); education (4.0 percent vs 5.7 percent) and health & social work (12.5 percent vs 28.4 percent).

On a quarterly basis, the GDP advanced 1.7 percent, after expanding 1.8 percent in the previous quarter.


Friday April 12 2019
Ghana Inflation Rate Ticks Up to 9.3% in March
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana edged up to 9.3 percent in March of 2019 from 9.2 percent in the prior month. It is the highest inflation rate since December, driven by prices of both food and non-food products.

Year-on-year, inflation quickened mainly for food & non-alcoholic beverages (8.4 percent vs 8.1 percent in February), essentially coffee, tea and cocoa (13 percent vs 11.6 percent); mineral water, soft drinks, fruit and vegetable juices (11.1 percent vs 9.9 percent); fruits (10.2 percent vs 10 percent) and meat and meat products (9.1 percent, the same as in the prior month). Also, prices remained elevated for non-food products (9.7 percent, the same pace as in February), namely clothing & footwear (13.3 percent, the same pace as in February); transport (13.7 percent vs 12.8 percent); furnishing, household equipment and routine maintenance (12.2 percent vs 11.6 percent) and recreation & culture (14.1 percent vs 13.2 percent).

In contrast, cost slowed for housing & utilities (2.1 percent vs 2.6 percent).

On a monthly basis, consumer prices went up 1.2 percent, following a 1.0 percent increase in February.


Tuesday March 19 2019
Ghana Inflation Rate Edges Higher to 9.2% in February
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana rose to 9.2 percent in February 2019 from 9.0 percent in the previous month. Prices went up faster for both food (8.1% vs 8.0% in January) and non-food products (9.7% vs 9.5%).

Year-on-year, prices advanced faster for food & non-alcoholic beverages (8.1 percent vs 8.0 percent in January), with cost remaining elevated for mineral water, soft drinks, fruit and vegetable juices (9.9 percent vs 9.3 percent); coffee, tea and cocoa (11.6 percent vs 12.4 percent); fruits (10 percent, the same pace as in January) and meat and meat products (9.1 percent vs 9.8 percent). Meantime, inflation quickened for non-food products (9.7 percent vs 9.5 percent), of which: clothing & footwear (13.3 percent vs 12.8 percent); miscellaneous goods & services (10 percent vs 9.6 percent); hotels & restaurants (8.3 percent vs 6.7 percent); furnishing & household equipment (11.6 percent vs 11.2 percent); recreation & culture (13.2 percent vs 12.7 percent); communications (5.3 percent vs 5.2 percent) and alcoholic beverages & tobacco (8.8 percent vs 8.3 percent).

On the other hand, inflation was steady for health (at 5.3 percent) and slowed for housing & utilities (2.6 percent vs 2.9 percent); transport (12.8 percent vs 13.4 percent) and education (8.0 percent vs 8.1 percent).

On a monthly basis, consumer prices were up 1 percent, the same pace as in preceding month.


Wednesday February 13 2019
Ghana Inflation Rate at 6-Year Low of 9% in January
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The annual inflation rate in Ghana eased to 9 percent in January of 2019 from 9.4 percent in the prior month. It is the lowest inflation rate since December 2012, as prices slowed for both food (8.0% vs 8.6% in December) and non-food products (9.5% vs 9.8%).

Year-on-year, inflation slowed primarily for food & non-alcoholic beverages (8.0 percent vs 8.7 percent in December), including coffee, tea and cocoa (12.4 percent vs 13.5 percent) and fruits (10 percent vs 11.4 percent) and housing & utilities (2.9 percent vs 3.4 percent). Also, prices rose at a slower pace for: clothing & footwear (12.8 percent vs 13 percent); transport (13.4 percent vs 13.6 percent); miscellaneous goods & services (9.6 percent vs 10 percent); furnishing & household equipment (11.2 percent vs 11.6 percent); education (8.1 percent vs 8.2 percent); recreation & culture (12.7 percent vs 13.2 percent) and health (5.3 percent vs 6.4 percent).

In contrast, cost advanced faster for hotels, cafes and restaurants (6.7 percent vs 6.3 percent); communication (5.2 percent vs 5.1 percent) and  alcoholic beverages & tobacco (8.3 percent vs 7.6 percent).

On a monthly basis, consumer prices went up 1.0 percent, following a 1.1 percent gain in the preceding month.


Wednesday January 09 2019
Ghana Annual Inflation Rate Rises to 9.4% in December
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

The annual inflation rate in Ghana rose to 9.4 percent in December of 2018 from 9.3 percent in the previous month, as both food and non-food prices increased at a faster pace.

Year-on-year, cost advanced further for food and non-alcoholic beverages (8.7 percent compared to 8.6 percent in November), mainly coffee, tea and cocoa (13.5 percent compared to 12.8 percent) and fruits (11.4 percent compared to 11.0 percent). Additionally, prices went up at a faster pace for housing & utilities (3.4 percent compared to 3.1 percent); clothing & footwear (13.0 percent compared to 12.6 percent); furnishing & household equipment (11.6 percent compared to 11.4 percent); and restaurant & hotels (6.3 percent compared to 5.9 percent). 

On the other hand, prices eased for transport (13.6 percent compared to 13.7 percent); miscellaneous goods & services (10.0 percent compared to 10.3 percent); recreation & culture (13.2 percent compared to 13.3 percent); communication (5.1 percent compared to 5.4 percent); health (6.4 percent compared to 6.6 percent) and alcoholic beverages & tobacco (7.6 percent compared to 8.1 percent). Also, inflation was steady for and education (8.2 percent, the same as in November). 

On a monthly basis, consumer prices went up 1.1 percent, after a 0.7 percent gain in the prior month.


Thursday December 20 2018
Ghana Annual GDP Growth at 1-Year High in Q3
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana’s economy grew 7.4 percent year-on-year in the third quarter of 2018, following a 5.4 percent expansion in the previous period. It was the strongest growth rate since the third quarter of 2017, mostly driven by the industry and services sectors.

The services sector advanced 3.5 percent, higher than a 0.5 percent growth in the second quarter of the year, boosted by a rebound in professional administrative & support (7.2 percent from -5.9 percent in Q2); transport & storage (4.3 percent from -1.1 percent) and trade, repair of vehicle and household goods (2.9 percent from -1.5 percent). Also, output rose faster in health & social work (28.4 percent from 26.8 percent); education (5.7 percent from 2.0 percent) and hotels & restaurants (5.4 percent from 4.3 percent). In addition, output fell at a softer pace in finance & insurance (-8.8 percent from -13.4 percent). On the other hand, output growth slowed in information & communication (9.9 percent from 14.6 percent); public administracion & defence & social security (2.0 percent from 4.2 percent) and personal service & activities (2.2 percent from 6.7 percent) while contracted further in real estate (-16.7 percent from -0.8 percent).

The industrial sector grew 11.7 percent, faster than a 11.1 percent expansion in Q2, mainly driven by manufacturing (6.5 percent from 2.7 percent). In contrast, output growth slowed in mining & quarrying (23.9 percent from 24.7 percent); electricity (5.6 percent from 9.0 percent) and construction (0.9 percent from 2.0 percent). Additionally, output shrank for oil & gas (-4.4 percent from 12.1 percent) and water & sewerage (-4.9 percent from -3.5 percent).

Agriculture increased 5.5 percent, after a 4.8 percent gain in the previous quarter, mostly due to crops & cocoa (6.8 percent from 4.8 percent) and livestock (5.7 percent from 5.6 percent). Meanwhile, output contracted in fishing (-0.8 percent from 2.7 percent)and growth slowed in forestry & logging (0.3 percent from 4.0 percent).

On a quarterly basis, the GDP advanced 1.8 percent, after expanding 1.3 percent in the prior period.