Thursday June 14 2018
Ghana Inflation Rate Rises to 9.8% in May
Ghana Statistical Service | Gabriela Costa | gabriela.costa@tradingeconomics.com

Inflation rate in Ghana rose to 9.8 percent in May of 2018 from 9.6 percent in April, which was the smallest rate since December 2012, as prices advanced faster mainly for food and fuel. Still, the May figure was the second lowest since January 2013.

Year-on-year, prices picked up for food & non-alcoholic beverages (7.6 percent compared to 7.4 percent in April) - mainly due to coffee, tea & cocoa (10.8 percent from 10.5 percent), fruits (9.9 percent from 9.9 percent), mineral water & soft drinks (9.3 percent from 8.8 percent), meat & meat products (9.1 percent from 8.8 percent), vegetables (8.1 percent from 7.9 percent) and oils & fats (8 percent from 7.3 percent) -; transport (10.3 percent compared to 9.5 percent); miscellaneous goods & services (12.8 percent compared to 12.3 percent); furnishings & household equipment (14 percent compared to 13 percent); recreation & culture (14.2 percent compared to 13.6 percent) and health (7.8 percent compared to 7.6 percent). Meanwhile, inflation was steady for housing & utilities (3.9 percent, the same as in April); clothing & footwear (17.2 percent) and restaurants & hotels (7.5 percent). In contrast, cost slowed slightly for education (8.5 percent compared to 8.6 percent); communication (7.9 percent compared to 8.0 percent) and alcoholic beverages, tobacco & narcotics (9.3 percent compared to 9.5 percent).

On a monthly basis, consumer prices went up 1 percent, from 0.9 percent in April.





Wednesday May 09 2018
Ghana Inflation Rate Falls to Lowest Since 2012
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana's annual inflation rate dropped to 9.6 percent in April of 2018 from 10.4 percent in the previous month. It was the lowest inflation rate since December of 2012, mostly due to housing and utilities and transport.

Year-on-year, prices slowed for housing and utilities (3.9 percent compared to 7.3 percent in March); transport (9.5 percent compared to 18.4 percent) and communication (8.0 percent compared to 8.2 percent). In contrast, cost increased faster for food and non-alcholic beverages (7.4 percent compared to 7.3 percent), mainly milk, chesse and eggs (5.8 percent compared to 5.7 percent), fish and sea food (7.0 percent compared to 6.7 percent) and oils and fats (7.3 percent compared to 6.7 percent). Also, prices rose further for clothing and footwear (17.2 percent compared to 16.4 percent); miscellaneous goods and services (12.3 percent compared to 12.0 percent); restaurants and hotels (7.5 percent compared to 7.2 percent) and furnishings and household equipment (13.0 percent compared to 11.9 percent). Additionally, prices continued to rise for education (8.6 percent compared to 6.7 percent); recreation and culture (13.6 percent compared to 12.6 percent); health (7.6 percent compared to 7.3 percent) and alcoholic beverages, tobacco and narcotics (9.5 percent compared to 8.9 percent).

On a monthly basis, consumer prices edged up 0.9 percent, easing from a 1.1 percent gain in March.


Friday April 13 2018
Ghana GDP Growth Eases to 8.1% in Q4
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana's economy expanded by 8.1 percent year-on-year in the fourth quarter of 2017, following an upwardly revised 9.7 percent growth in the previous three-month period. Considering 2017 full year, the economy grew by 8.5 percent, the fastest rate in five years, mainly boosted by oil and gas production.

The services sector rose 3.4 percent, lower than 5.5 percent in the previous period, mostly due to slower growth in health (24.2 percent compared to 32.1 percent in Q3); education (24.2 percent compared to 32.1 percent) and real estate, professional, administrative and other (3.3 percent compared to 9.0 percent). Additionally, output contracted in public administration (-4.0 percent compared to 4.0 percent) and transport (-3.2 percent compared to 1.2 percent).

Agriculture increased 8.5 percent, slowing from a 9.8 percent in the previous quarter, mainly due to livestock (4.6 percent compared to 6.7 percent) and fishing (4.4 percent compared to 50.6 percent). 

The industrial sector expanded 17.5 percent, higher than a 17.1 percent in the third quarter. Growth advanced faster in mining (43.9 percent compared to 41.2 percent in Q3) while eased in construction (5.0 percent compared to 7.2 percent); manufacturing (1.3 percent compared to 2.5 percent); water and sewerage (3.5 percent compared to 11.2 percent) and electricity (2.8 percent compared to 13.2 percent).

Considering 2017 full year, the economy grew by 8.5 percent, the highest in five years, and after a 3.7 percent expansion in 2016.




Wednesday April 11 2018
Ghana Inflation Rate Eases to 10.4% in March
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Consumer prices in Ghana advanced 10.4 percent year-on-year in March of 2018, easing from a 10.6 percent rise in the prior month, mainly due to a slowdown in clothing and footwear and transport prices.

Year-on-year, cost increased at a softer pace for housing and utilities (7.3 percent compared to 7.8 percent in February); clothing and footwear (16.4 percent compared to 16.6 percent) and transport (18.4 percent compared to 18.9 percent). Also, prices rose less for miscellaneous goods and services (12.0 percent compared to 12.9 percent); restaurants and hotels (7.2 percent compared to 8.3 percent) and furnishings and household equipment (11.9 percent compared to 12.0 percent). In addition, cost eased for recreation and culture (12.6 percent compared to 13.2 percent) and health (7.3 percent compared to 7.4 percent). On the other hand, food prices went up faster (7.1 percent compared to 7.2 percent), mostly coffee, tea and cocoa (10.6 percent compared to 9.3 percent); meat (8.8 percent compared to 8.2 percent) and non-alcoholic beverages (8.7 percent compared to 8.3 percent). Additionally, cost advanced further for education (6.7 percent compared to 6.1 percent); communication (8.2 percent compared to 8.0 percent) and alcoholic beverages, tobacco and narcotics (8.9 percent compared to 8.8 percent).

On a monthly basis, consumer prices went up 1.1 percent, after a 0.9 percent gain in the previous month.


Wednesday March 14 2018
Ghana Inflation Rate Edges Up to 10.6% in February
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Consumer prices in Ghana increased 10.6 percent year-on-year in February of 2018, following a 10.3 percent rise in the previous month. Prices advanced faster mainly due to food and non-alcoholic beverages and housing and utilities.

Year-on-year, food cost rose further by 7.2 percent compared to 6.8 percent in January, namely fruits (9.8 percent compared to 9.2 percent) and coffee, tea and cocoa (9.3 percent compared to 8.2 percent). Additionally, prices went up at a faster pace for housing and utilities (7.8 percent compared to 7.4 percent); transport (18.9 percent compared to 17.9 percent) and miscellaneous goods and services (12.9 percent compared to 12.7 percent). Also, cost continued to increase for education (6.1 percent compared to 5.5 percent); communication (8.0 percent compared to 7.3 percent) and health (7.4 percent compared to 7.2 percent). Meanwhile, prices slowed for clothing and footwear (16.6 percent compared to 16.7 percent); restaurants and hotels (8.3 percent compared to 8.9 percent) and furnishings and household equipment (12.0 percent compared to 12.1 percent). In addition, cost eased for recreation and culture (13.2 percent compared to 13.7 percent) and alcoholic beverages, tobacco and narcotics (8.8 percent compared to 8.9 percent).

On a monthly basis, consumer prices increased 0.9 percent, after a 1.4 percent gain in the prior month.


Wednesday February 14 2018
Ghana Inflation Rate Lowest Since 2013
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Consumer prices in Ghana increased 10.3 percent year-on-year in January of 2018, easing from a 11.8 percent gain in the previous month. It was the lowest inflation rate since January of 2013, mainly due to a slowdown in food and clothing and footwear prices.

Year-on-year, food cost slowed by 6.8 percent compared to 8.0 percent in December, namely boosted by vegetables (8.7 percent compared to 10.0 percent) and cereals (6.7 percent compared to 7.8 percent). In addition, prices rose at a softer pace for clothing and footwear (16.7 percent compared to 18.8 percent); housing and utilities (7.4 percent compared to 9.0 percent); transport (17.9 percent compared to 18.7 percent) and miscellaneous goods and services (12.7 percent compared to 13.6 percent). Also, prices advanced less for restaurants and hotels (8.9 percent compared to 9.8 percent); furnishings and household equipment (12.1 percent compared to 15.2 percent); education (5.5 percent compared to 8.2 percent); communication (7.3 percent compared to 9.7 percent) and recreation and culture (13.7 percent compared to 17.5 percent). On the other hand, cost went up further for health (7.2 percent compared to 6.3 percent). 

On a monthly basis, consumer prices increased 1.4 percent, following a 1.0 percent rise in the prior month.


Wednesday January 10 2018
Ghana Inflation Rate Rises Slightly to 11.8% in December
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Consumer prices in Ghana increased 11.8 percent year-on-year in December of 2017, following a 11.7 percent rise in the previous month mostly due to higher prices of food.

Year-on-year, food cost rose by 8.0 percent compared to 7.9 percent in November, namely boosted by vegetables (10.0 percent) and fish and sea food (8.8 percent). Also, cost advanced at a faster pace for: clothing and footwear (18.8 percent compared to 18.3 percent) ; housing and utilities (9.0 percent compared to 8.6 percent); transport (18.7 percent compared to 18.6 percent); communication (9.7 percent compared to 9.4 percent); recreation and culture (17.5 percent compared to 17.1 percent) and health (6.3 percent compared to 5.5 percent). Prices were unchanged for furnishings and household equipment (15.2 percent, the same as in November). Meanwhile, prices went up at a softer pace for: miscellaneous goods and services (13.6 percent compared to 14.0 percent); restaurants and hotels (9.8 percent compared to 10.7 percent) and education (8.2 percent compared to 8.8 percent).

On a monthly basis, consumer prices increased 1.0 percent, after a 0.9 percent gain in the prior month.


Thursday December 21 2017
Ghana GDP Growth Expands the Most Since 2014
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana´s economy advanced 9.3 percent year-on-year in the third quarter of 2017, above a 9.0 percent rise in the previous period. It is the highest growth rate since the third quarter of 2014, mainly boosted by a 72.2 percent jump in the oil and gas sector. On a quarterly basis, the economy expanded 2.5 percent.

The services sector increased 5.7 percent, higher than 5.6 percent in the previous period, mainly due to transport (2.0 percent compared to 1.9 percent in Q2) ; real estate, professional, administrative and other (7.0 percent compared to 4.9 percent), education (8.4 percent compared to 6.6 percent) and health (12.6 percent compared to 10.1 percent).

Agriculture rose 10.0 percent compared to 3.4 percent in Q2, mainly due to a 57.0 percent gain in fishing (-17.6 percent in Q2). 

The industrial sector went up 16.6 percent, easing from a 19.3 percent rise in the previous period. Growth advanced at a softer pace for mining (40.8 percent compared to 75.0 percent in Q2);  manufacturing (5.2 percent compared to 6.6 percent) while construction rose at faster pace (2.6 percent compared to 0.8 percent). 


Wednesday December 13 2017
Ghana Inflation Rate Rises to 11.7% in November
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Consumer prices in Ghana increased 11.7 percent year-on-year in November of 2017, following a 11.6 percent rise in the previous month, mainly due to higher prices of housing, transport and clothing and footwear. 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 faster pace for the non-food group (13.6 percent compared to 13.2 percent in October), namely housing and utilities (8.6 percent compared to 6.9 percent); transport (18.6 percent compared to 18.5 percent); clothing and footwear (18.3 percent compared to 17.1 percent); recreation and culture (17.1 percent compared to 16.8 percent); furnishings and household equipment (15.2 percent compared to 14.4 percent); and health (5.5 percent compared to 4.8 percent).

On the other hand, prices went up at a softer pace for: miscellaneous goods and services (14.0 percent compared to 14.5 percent); restaurants and hotels (10.7 percent compared to 11.9 percent); communication (9.4 percent compared to 10 percent) and education (8.8 percent compared to 9.3 percent). 

Food inflation decreased to 7.9 percent from 8.2 percent. Prices rose less for fish and sea food (8.8 percent compared to 16.1 percent) and cereals and cereal products (7.3 percent compared to 7.5 percent).

On a monthly basis, consumer prices increased 0.9 percent, the same as in October.


Wednesday November 08 2017
Ghana Inflation Rate Lowest Since 2013
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

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.