Ghana Inflation Rate at 4-Month High in November

Consumer prices in Ghana increased 17.60 percent year-on-year November of 2015, following a 17.4 percent rise in the previous month. It is the highest inflation rate since July boosted by faster increase in cost of food, housing and utilities, transportation and clothing.

Year-on-year, prices food and non-alcoholic beverages rose at a faster 7.9 percent (+7.8 percent in October); housing, water, electricity, gas and other fuels went up by 24.1 percent (+23.1 percent in October); transport by 26.2 percent (25.7 percent in October); clothing and footwear rose by 25.6 percent (+24.5 percent in October) and education increased 29.6 percent (+28.8 percent in October). In contrast, cost of hotels and cafes (+18.1 percent from +18.7 percent in October) and recreation and culture (+26.5 percent from +29.9 percent in October) increased at slower pace. 

On a monthly basis, consumer prices went up by 1.0 percent, compared to a 2.7 percent in the previous month. 

Lower commodity prices and a fiscal crisis led to a sharp drop in the cedi against the USD, raising import prices and the pushing the inflation up in the last two years. The country signed a three-year aid deal with the IMF in April this year, to help fixing economic problems and increase credibility among investors.

Ghana Inflation Rate at 4-Month High in November

Ghana Statistical Service | Yekaterina Guchshina |
12/9/2015 1:48:38 PM