Ghana Inflation Rate Up to 14.8%


Ghana annual inflation rate accelerated slightly for the ninth straight month to 14.8 percent in May of 2014 from 14.7 percent in the previous month, driven by higher cost of housing, water, electricity, gas and transport.

Upward inflationary pressures came mostly from housing, water, electricity, gas and other fuel (51.0 percent), transport (27.0 percent), miscellaneous goods and services (15.7 percent), health (15.5 percent), recreation and culture (14.9 percent).

Food prices increased 8.0 percent, up from 7.0 percent in the previous month, driven by higher cost of  mineral waters, soft drinks, fruit (21.9 percent), coffee, tea and cocoa (14.9 percent), meat and meat products (11.8 percent), milk, cheese and eggs (11.4 percent), sugar, jam, honey, chocolate (9.7 percent), cereals and cereal products (9.1 percent), oils and fats (8.3 percent).

At the regional level, the annual inflation rate ranged from 11.2 percent in the Upper West region to 16.1 percent in the Greater Accra Region.

On a monthly basis, consumer prices rose 0.9 percent in May, slowing from a 1.7 percent increase in the previous month.

Ghana Inflation Rate Up to 14.8%


Isabel Felino | isabel.felino@tradingeconomics.com
6/11/2014 4:20:27 PM