Ghana Inflation Rate Slows to 18.5% in February


Ghana's annual inflation rate was recorded at 18.5 percent in February of 2016, down from 19 percent in the preceding month. The inflation rate eased for the first time in six months as the stability of the cedi during the month avoided further rises in cost of imported items.

Compared to February 2015, cost of housing and utilities (41 percent from 45.5 percent in January), transport (30.4 percent from 30.8 percent in January) and clothing and footwear (19.4 percent from 21.4 percent in January) slowed. In contrast, prices increased at faster pace for food and non-alcoholic beverages (8.3 percent from 8.2 percent in January), recreation and culture (25.3 percent from 25 percent in January) and education (25.4 percent from 22.2 percent in January). 

On a monthly basis, consumer prices rose 0.7 percent, easing from a 4.6 percent jump in January as cost of housing and utilities declined 2.3 percent (+17.7 percent in January), food prices rose at a slower 0.6 percent (5.8 percent in January) and transport inflation eased to 1.1 percent (3.6 percent in January).

Ghana Inflation Rate Slows to 18.5% in February


Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com
3/9/2016 2:18:05 PM