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.

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


Ghana Statistical Service | Isabel Felino | isabel.felino@tradingeconomics.com
8/13/2014 5:33:06 PM