Ghana Inflation Rate Lowest Since July 2014

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.

Ghana Inflation Rate Lowest Since July 2014

Ghana Statistical Service | Deborah Neves |
1/11/2017 2:17:30 PM