Ghana Inflation Rate Rises to 4-1/2 Year High

Ghana annual inflation rate accelerated to 15.3 percent in July of 2014 from 15.0 percent in the previous month, reaching the highest level since December of 2009.
Ghana Statistical Service | Isabel Felino | isabel.felino@tradingeconomics.com 8/13/2014 5:33:06 PM
Year-on-year, prices increased for housing, water, electricity, gas and other fuels (62.0 percent from 53.6 percent in June); and transport (38.3 percent from 24.6 percent).

In contrast, prices slowed for miscellaneous goods and services (13.0 percent yoy from 14.4 percent in June); clothing and footwear (12.9 percent from 15.3 percent); recreation and culture (12.4 percent from 14.2 percent); alcoholic beverages, tobacco, and narcotics (15.1 percent from 15.3 percent); furnishings, household equipment and routine maintenance (9.3 percent from 10.0 percent); education (3.2 percent from 3.7 percent); and communications (8.5 percent from 8.8 percent). Cost of health increased by 13.5 percent and of hotels, cafes, and restaurants by 5 percent. 

On a month-on-month basis, the CPI remained steady at 1.6 percent in July of 2014. Upward inflationary pressure was mostly attributed to higher price of transportation (+11.7 percent) and housing, water, electricity, gas and other fuels (+5.5 percent).

Ghana Inflation Rate Rises to 4-1/2 Year High