Wednesday October 17 2018
Ghana Economy Grows 5.4% YoY in Q2
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana’s economy expanded 5.4 percent year-on-year in the second quarter of 2018, the same pace as in the previous period. It remained the weakest growth rate since the third quarter of 2016, mostly due to a slowdown in the services sector. On a quarterly basis, the gross domestic product grew 1.3 percent. The country rebased its nationals accounts from 2006 prices to 2013.

The services sector grew 0.5 percent, slowing from a 1.4 percent expansion in the first quarter of the year, mainly due to a contraction in trade, repair of vehicle and household goods (-1.5 percent compared to 1.8 percent); finance and insurance (-13.4 percent compared to -11.6 percent); professional, admnistrative and support (-5.9 percent compared to -5.7 percent) and transport and storage (-1.1 percent compared to -1.0 percent). Also, growth eased in information and communication (14.6 percent compared to 16.3 percent and education (2.0 percent compared to 4.0 percent). Meanwhile, output increased further in health and social work (26.8 percent compared to 24.8 percent); hotel and restaurants (4.3 percent compared to 2.0 percent) and public administracion and defence and social security (4.2 percent compared to 4.1 percent). Additonally, output rebounded in other personal service and activities (6.7 percent compared to -0.7 percent) and fell less in real estate (-0.8 percent compared to -2.7 percent).

The industrial sector advanced 11.1 percent, higher than a 10.4 percent expansion, driven by mining and quarrying (24.7 percent compared to 24.6 percent); electricity (9.0 percent compared to 1.0 percent) and construction (2.0 percent compared to -0.8 percent). On the other hand, output growth slowed for manufacturing (2.7 percent compared to 5.4 percent); oil and gas (12.1 percent compared to 23.7 percent) and dropped for water and sewerage (-3.5 percent compared to 1.6 percent).

Agriculture rose 4.8 percent, after a 4.7 percent gain in the prior quarter, boosted by livestock (5.6 percent compared to 5.4 percent) and fishing (2.7 percent compared to -9.2 percent). In contrast, output increased at a softer pace for crops and cocoa (4.8 percent compared to 5.1 percent) and forestry and logging (4.0 percent compared to 6.3 percent).

On a quarterly basis, the GDP advanced 1.3 percent, unchanged from the previous quarter.




Wednesday October 17 2018
Ghana Annual Inflation Rate Slows to 9.8% in September
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

The annual inflation rate in Ghana fell to 9.8 percent in September of 2018 from 9.9 percent in the previous month, mainly due to a slowdown in non-food prices.

Year-on-year, prices eased for housing & utilities (3.0 percent compared to 3.3 percent in August); transport (14.4 percent compared to 15.1 percent); clothing & footwear (14.3 percent compared to 15.2 percent); miscellaneous goods & services (11.5 percent compared to 11.9 percent); furnishing & household equipment (12.4 percent compared to 12.6 percent); education (7.3 percent compared to 8.3 percent); communication (6.7 percent compared to 7.3 percent) and health (7.1 percent compared to 7.3 percent). 

On the other hand, cost of food and non-alcoholic beverages rose at a faster pace (8.7 percent compared to 7.9 percent), namely coffee, tea & cocoa (13.1 percent), fruits (11.3 percent) and meat & meat products (10.2 percent). Additonally, prices increased further for alcoholic beverages & tobacco (8.0 percent compared to 7.9 percent) and inflation was steady for restaurant & hotels (5.8 percent, the same as in August) and recreation & culture (13.9 percent, the same as in August).

On a monthly basis, consumer prices were unchanged.




Wednesday September 12 2018
Ghana Annual Inflation Rate Rises to 9.9% in August
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

The annual inflation rate in Ghana increased to 9.9 percent in August of 2018 from 9.6 percent in July, as both food and non-food inflation rose.

Year-on-year, prices advanced further for food and non-alcoholic beverages (7.9 percent compared to 7.4 percent in July), namely coffee, tea & cocoa (11.3 percent), fruits (10.6 percent) and meat & meat products (10.0 percent). Additonally, prices went up faster for transport (15.1 percent compared to 15.0 percent); housing & utilities (3.3 percent compared to 3.0 percent); furnishing & household equipment (12.6 percent compared to 12.5 percent); communication (7.3 percent compared to 6.7 percent) and health (7.3 percent compared to 7.1 percent). Also, cost of recreation & culture rebounded (13.9 percent compared to -7.5 percent).

Meanwhile, prices eased for clothing & footwear (15.2 percent compared to 15.4 percent); miscellaneous goods & services (11.9 percent compared to 12.0 percent) and education (8.3 percent compared to 8.4 percent). In addition, inflation was steady for restaurant & hotels (at 5.8 percent, the same as in July) and alcoholic beverages & tobacco (at 7.9 percent). 

On a monthly basis, consumer prices were unchanged, after a 0.4 percent gain in July.


Monday August 20 2018
Ghana Inflation Rate Slows to 9.6% in July
Ghana Statistical Service | Agna Gabriel | agna.gabriel@tradingeconomics.com

Annual inflation rate in Ghana eased to 9.6 percent in July of 2018 from 10 percent in the previous month. It was the lowest inflation rate since April, due to a slowdown in non-food prices.

Year-on-year, cost slowed for clothing & footwear (15.4 percent from 16.1 percent in June); housing & utilities (3 percent from 3.4 percent); transport (15 percent from 15.5 percent); miscellaneous goods & services (12 percent from 12.7 percent); restaurant & hotels (5.8 percent from 7.2 percent); furniture & household equipment (12.5 percent from 13.3 percent); communication (6.7 percent from 7.2 percent); health (7.1 percent from 7.5 percent) and alcoholic beverages & tobacco (7.9 percent from 9 percent). Additionally, inflation was steady for education (8.4 percent, the same as in June) and prices fell for recreation & culture (-7.5 percent from 13.8 percent). On the other hand, prices advanced faster for food and non-alcoholic beverages (7.4 percent from 7.3 percent).

On a monthly basis, consumer prices went up 0.4 percent, following a 1 percent rise in June. 


Wednesday July 11 2018
Ghana Inflation Rate Picks Up to 10%
Ghana Statistical Service | Joana Taborda | joana.taborda@tradingeconomics.com

The inflation rate in Ghana edged up to 10 percent in June of 2018 from 9.8 percent in May. The inflation accelerated for the second straight month after reaching 9.6 percent in April, the lowest since December of 2012. Transportation was the only category showing a higher inflation rate.

Year-on-year, prices rose faster for transport (15.5 percent compared to 10.3 percent). On the other hand, inflation eased for food & non-alcoholic beverages (7.3 percent compared to 7.6 percent in May). Six subgroups recorded inflation rates higher than 7.3 percent: coffee, tea and cocoa (10.3 percent); fruits (9.6 percent); meat and meat products (8.7 percent); mineral waters and soft drinks (8.4 percent); vegetables (8.3 percent); while five subgroups showed a smaller inflation rate: fish and sea food (6.8 percent); oils and fats (6.5 percent); cereals (6.2 percent); sugar, jam, honey (6 percent9; and milk, cheese and eggs (5.8 percent). 

Inflation also slowed for housing & utilities (3.4 percent compared to 3.9 percent); clothing & footwear (16.1 percent compared to 17.2 percent); miscellaneous goods & services (12.7 percent compared to 12.8 percent); restaurants & hotels (7.2 percent compared to 7.5 percent); furnishings & household equipment (13.3 percent compared to 14 percent); education (8.4 percent compared to 8.5 percent); recreation & culture (13.8 percent compared to 14.2 percent); communication (7.2 percent compared to 7.9 percent); health (7.5 percent compared to 7.8 percent); and alcoholic beverages, tobacco & narcotics (9 percent compared to 9.3 percent).

On a monthly basis, consumer prices increased 1 percent, the same as in May.


Wednesday June 27 2018
Ghana GDP Growth Slows to 1-Year Low in Q1
Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com

Ghana’s economy grew 6.8 percent year-on-year in the first quarter of 2018, easing from a 8.1 percent gain in the previous period. It was the weakest expansion since the first quarter of 2017, as the industrial sector and agriculture slowed. On a quarterly basis, the gross domestic product expanded 1.5 percent, slowing from a 2.1 percent growth in the prior period.

The industrial sector advanced 9.6 percent, lower than 17.5 percent in the fourth quarter of 2017, mainly due to a drop in construction (-0.8 percent compared to 5.0 percent in Q4) and a slowdown in mining (28.0 percent compared to 43.9 percent); oil and gas (24.8 percent compared to 57.9 percent) and electricity (2.4 percent compard to 2.8 percent). Meanwhile, output increased in manufacturing (3.1 percent compared to 1.3 percent) and water and sewerage (9.2 percent compared to 3.5 percent). 

Agriculture grew 2.8 percent, easing from a 8.5 percent in the previous period, mostly due to crops and cocoa (4.6 percent compared to 9.7 percent); forestry and logging (1.6 percent compared to 3.0 percent) and fishing (-8.1 percent compared to 4.4 percent).

The services sector expanded 5.2 percent, higher than a 3.4 percent in the prior quarter, boosted by growth in information and communication (25.9 percent compared to 12.2 percent); real estate, professional, administrative and other (7.7 percent compared to 3.3 percent); public administration (3.1 percent compared to -4.0 percent) and trade, repair of vehicle and householg goods (2.9 percent compared to 1.5 percent). Also, output shrank less for transport (-1.7 percent compared to -3.2 percent) and community, social and personal services (-1.7 percent compared to -3.6 percent). On the other hand, growth eased for health (9.7 percent compared to 24.2 percent) and education (2.8 percent compared to 24.2 percent). Additionally, output dropped for finance and insurance (-7.9 percent compared to 1.8 percent) and hotel and restaurants (-0.4 percent compared to 2.5 percent).

On a quarterly basis, the GDP grew 1.5 percent, after expanding 2.1 percent in the previous quarter.


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.