Wednesday June 14 2017
Ghana Inflation Rate Lowest Since September 2013
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

Consumer prices in Ghana increased 12.6 percent year-on-year in May of 2017, easing from a 13 percent rise in April. It is the lowest inflation rate since September of 2013, as declining fuel cost led to a general slowdown in prices.

Year-on-year, prices slowed for: food and non-alcoholic beverages (6.3 percent vs 6.7 percent in April); housing and utilities (7.4 percent vs 7.7 percent); clothing and footwear (16.5 percent vs 16.7 percent); transport (23.6 percent vs 24.9 percent); miscellaneous goods and services (16.4 percent vs 16.8 percent); furniture and household equipment (20.7 percent vs 21.9 percent), recreation and culture (21.4 percent vs 22.3 percent); communication (11.3 percent vs 11.4 percent) and health (14.9 percent vs 15.1 percent). Also, the inflation rate was steady for hotels, cafes and restaurants (12.8 percent) and  education (14 percent).

On a monthly basis, consumer prices went up 0.7 percent, lower than 1.6 percent in April.




Wednesday May 10 2017
Ghana Inflation Rate Rises To 13% In April
Joana Taborda | joana.taborda@tradingeconomics.com

Inflation rate in Ghana inched up to 13 percent in April from three and a half year low of 12.8 percent reported in March. While cost of transportation surged 24.9 percent dues to rise in transport fares, food inflation slowed to 6.7 percent which was the lowest since November 2014.

Year-on-year, prices increased at a faster pace for transport (24.9 percent from 15.3 percent in March) and miscellaneous goods and services (16.8 percent from 16.7 percent). In contrast, inflation slowed for food and non-alcoholic beverages (6.7 percent from 7.3 percent in March); housing and utilities (7.7 percent from 7.9 percent); clothing and footwear (16.7 percent from 18.2 percent) and health (15.1 percent from 15.8 percent). 

On a monthly basis, consumer prices increased 1.6 percent, higher than 1.3 percent in March.


Tuesday May 02 2017
Ghana Economy Expands 4.1% YoY In Q4
Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com

The GDP in Ghana advanced 4.1 percent year-on-year in the fourth quarter of 2016, following a downwardly revised 3.9 percent expansion in the previous quarter. The main drivers of growth were services and industry. A year earlier, GDP growth was lower at 3.9 percent.

The services sector advanced 6.3 percent (from 4.5 percent in Q3), boosted by trade (3.8 percent from 2.4 percent in Q3); hotels and restaurants (2.7 percent from -3.5 percent in Q3); transport and storage (2.7 percent from 0.6 percent in Q3); finance and insurance (3.4 percent, the same as in Q3); real estate, professional, administrative and others (9.3 percent from 1.4 percent in Q3) and public administration (5.3 percent from 0.6 percent in Q3).

The industry sector rose 3 percent, following a 0.9 percent increase in Q3. Output advanced for mining and quarrying (8.9 percent from 1.6 percent in Q3), electricity (7.2 percent from 3.9 percent in Q3) and rebounded for water and sewerage (2.6 percent from -9.2 percent in Q3).In contrast, output contracted further for manufacturing (-1.1 percent from -0.3 percent in Q3).

Agriculture increased at a slower 1.9 percent (from 2.8 percent in Q3).

On a quarterly basis, the economy grew 1.1 percent, at the same pace as in the previous quarter. Considering full 2016, the GDP advanced 3.5 percent, below 3.9 percent in 2015 on lower oil and gas production due to shutdowns. The government expects growth to reach 6.3 percent in 2017.




Wednesday April 12 2017
Ghana Inflation Rate Down To 12.8% In March
Joana Taborda | joana.taborda@tradingeconomics.com

Consumer prices in Ghana increased 12.8 percent year-on-year in March of 2017, from a 13.2 percent rise in February. The inflation fell for the sixth consecutive month to the lowest since September of 2013, mainly due to a slowdown in cost of transport and health.

Year-on-year, prices rose less for transport (15.3 percent from 23.3 percent in February) and health (15.8 percent from 17.1 percent). In contrast, inflation accelerated for food and non-alcoholic beverages (7.3 percent from 7.1 percent); housing and utilities (7.9 percent from 7.1 percent); clothing and footwear (18.2 percent from 17.8 percent) and miscellaneous goods and services (16.7 percent from 15.3 percent). 

On a monthly basis, consumer prices increased 1.3 percent, higher than 0.6 percent in February.


Wednesday March 15 2017
Ghana Inflation Rate Lowest Since November 2013
Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana slowed slightly to 13.2 percent in February of 2017 from 13.3 percent in the previous month. It was the lowest inflation rate since November of 2013 mainly due to a decline in the price of fuel.

Non-food inflation fell to 16.4 percent (16.6 percent in the previous month) as cost increased at slower pace for transport (23.3 percent from 24.6 percent), miscellaneous goods and services (15.3 percent from 15.9 percent), clothing and footwear (17.8 percent from 18 percent), education (19.6 percent from 25.1 percent) and health (17.1 percent from 18.2 percent).

Additional upward pressure came from: recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.5 percent from 22.1 percent), hotels, cafés and restaurants (13.9 percent from 13.3 percent), alcohol beverages and tobacco (13.9 percent from 13.7 percent) and communication (10.8 percent from 12.6 percent).

Meanwhile, prices of food and non-alcoholic beverages items rose faster by 7.1 percent from 7 percent in January, namely fish and sea food (14.3 percent), meat and meat products (11.2 percent), mineral water, soft drinks, fruit and vegetable juices (7.9 percent) and coffee, tea and cocoa (7.4 percent).

On a monthly basis, consumer prices increased 0.6 percent, following a 2.8 percent gain in the previous month.


Wednesday February 15 2017
Ghana Inflation Rate Lowest Since November 2013
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana slowed to 13.3 percent in January of 2017 from 15.4 percent in the previous month. It was the lowest inflation rate since November of 2013, as non-food cost rose at a slower pace namely for housing and utilities and transport and food prices also increased less.

Non-food inflation fell to 16.6 percent (18.2 percent in the previous month) as cost increased at slower pace for housing and utilities (4.4 percent from 20.2 percent), transport (24.6 percent from 27.2 percent) and health (18.2 percent from 18.5 percent).

Additional upward pressure came from: education (25.1 percent from 23.4 percent), recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.1 percent from 18.8 percent), clothing and footwear (18 percent from 16.4 percent), miscellaneous goods and services (15.9 percent from 14.7 percent), hotels, cafés and restaurants (13.3 percent from 13.7 percent), alcohol beverages and tobacco (13.7 percent from 13.5 percent) and communication (12.6 percent from 10.8 percent).

Moreover, prices of food and non-alcoholic beverages items increased at a slower 7 percent from 9.7 percent in December, namely vegetables (1.6 percent from 5.5 percent), milk and cheese products (4.6 percent from 6.9 percent), fruits (5.4 percent from 9.2 percent), meat and meat products (11.6 percent from 15 percent) and coffee, tea and cocoa (7.8 percent from 14 percent).

On a monthly basis, consumer prices jumped 2.8 percent, following a 0.9 percent increase in the previous month.


Wednesday January 11 2017
Ghana Inflation Rate Lowest Since July 2014
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana eased to 15.4 percent in December of 2016 from 15.5 percent in the previous month. It was the lowest inflation rate since July of 2014, as non-food cost increased at a slower pace mainly due to education, furniture and household equipment while prices rose faster for food.

Non-food inflation stood at 18.2 percent (18.7 percent in the previous month) as cost increased at slower pace for transports (27.2 percent from 27.8 percent), education (23.4 percent from 25.7 percent), recreation and culture (20.3 percent from 21 percent), housing and utilities (20.2 percent from 20.3 percent), furnishings and household items (18.8 percent from 20.3 percent), clothing and footwear (16.4 percent from 17.2 percent), and health (18.5 percent from 20 percent). Additional upward pressure came from: miscellaneous goods and services (14.7 percent from 14.2 percent), hotels, cafés and restaurants (13.7 percent from 12.7 percent), alcohol beverages and tobacco (13.5 percent from 13.8 percent) and communication (10.8 percent from 10.1 percent).

Meanwhile, prices of food and non-alcoholic beverages items rose 9.7 percent from 9.3 percent in November namely meat and meat products by 15 percent (13.3 percent in November), coffee, tea and cocoa by 14 percent (at the same pace as in the previous month) and fish and sea food by 13.9 percent (from 13.4 percent).

On a monthly basis, consumer prices rose 0.9 percent, following a 0.8 percent increase in a month earlier.


Thursday December 29 2016
Ghana Economy Expands 4% YoY in Q3
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The GDP in Ghana expanded 4 percent year-on-year in the third quarter of 2016, following a downwardly revised 2.3 percent growth in the preceding quarter. The expansion was boosted by the services sector and a recovery in industrial output after resumption of oil production from the Jubilee field. A year earlier, GDP growth was lower at 3.5 percent.

The industry sector recovered and went up 3.9 percent, following a 6.5 percent contraction in Q2. Output advanced for construction (+16.3 percent from -1.7 percent in Q2), electricity (+3.9 percent from 11.7 percent in Q2) and mining and quarrying (1.2 percent from -29 percent in Q2) but contracted for manufacturing (-6 percent from 13 percent in Q2) and water and sewerage (-7.8 percent from -8.1 percent in Q2).

The services sector rose less by 4.7 percent (5.7 percent in Q2), boosted by transport and storage (+8.6 percent from 9 percent in Q2), trade (4.1 percent, the same as in Q2), information and communication (+7.4 percent from 13.1 percent in Q2) and public administration, defense and social security (+6.1 percent from 3.8 percent in Q2).

Agriculture grew at a slower 2.3 percent (3.6 percent).


On a quarterly basis, the economy advanced 1.1 percent, compared with 0.5 percent growth in the previous quarter.
The GDP advanced 3.9 percent in 2015, the lowest pace in 15 years. The government expects the economy to expand 4.1 percent in 2016 and around 8 percent in 2017 as new offshore oil and gas comes onstream.



Wednesday December 14 2016
Ghana Inflation Rate Lowest Since July 2014
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana eased to 15.5 percent in November of 2016 from 15.8 percent in the previous month. It was the lowest inflation rate since July of 2014, as cost for utility and services rose at a slower pace, while prices rose further for food and transport. On a monthly basis, consumer prices rose 0.8 percent.

Non-food inflation edged down to 18.7 percent (19.4 percent in the previous month) as cost increased at slower pace for recreation and culture (21 percent from 24 percent), housing and utilities (20.3 percent from 23.1 percent), furnishings and houselhold items (20.3 percent from 22.3 percent), education (25.7 percent from 25.8 percent), clothing and footwear (17.2 percent from 19.2 percent), and health (20 percent from 20.9 percent). Meanwhile, prices of food and non-alcoholic beverages items rose 9.3 percent from 8.7 percent in October namely mineral water, soft drinks, fruit by 14.1 percent; coffe, tea and cocoa by 14 percent; fish and sea food by 13.4 percent, meat and meat products by 13.3 percent. Additional upward pressure came from: transports (27.8 percent from 27.7 percent), miscellaneous goods and services (14.2 percent from 13.5 percent), hotels, cafés and restaurants (12.7 percent from 12 percent) and communication (10.1 percent from 9 percent).

On a monthly basis, consumer prices rose 0.8 percent, following a 2.7 percent growth in a month earlier. 


Wednesday November 09 2016
Ghana Inflation Rate Lowest Since 2014 in October
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation in Ghana eased to 15.8 percent in October of 2016, from 17.2 percent in the preceding month. It was the lowest inflation rate since July of 2014 as cost of food and service charges rose at a slower pace.

Year-on-year, non-food inflation slowed to 19.4 percent from 21.6 percent in September. Also, food inflation eased to 8.7 percent from 9.0 percent.

On a monthly basis, consumer prices increased 1.4 percent after a 0.1 percent decline in September.