Ghana Inflation Rate Accelerates to 18.9% in May


Annual inflation in Ghana increased to 18.9 percent in May of 2016 from 18.7 percent in April, mostly due to a 5 percent jump in cost of fuel early in the month. Food and housing and utilities were other main drivers of the rise.

Compared to May 2015, prices of food and non-alcoholic beverages (8.5 percent from 8.3 percent in April); transport (40.9 percent from 40 percent); housing and utilities (35.7 percent from 35.8 percent) were the main contributors to the rise. Additional upward pressure came from: clothing and footwear (22.8 percent from 21 percent); recreation and culture (27.9 percent from 26.7 percent); furnishings and household items (21.8 percent from 22.9 percent); education (32.3 percent from 27.7 percent); miscellaneous goods and services (15.4 percent from 18.3 percent); health (13.9 percent from 13.7 percent); hotels, cafes and restaurants (14.4 percent from 15.9 percent) and communication (13.3 percent from 13.6 percent).

On a monthly basis, consumer prices went up 1.1 percent, following a 1.4 percent rise in the preceding month. Food prices grew by 1.2 percent, housing and utilities increased by 0.6 percent, transport rose by 1.1 percent.

Ghana Inflation Rate Accelerates to 18.9% in May


Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com
6/15/2016 1:49:19 PM