Ghana Inflation Rate at Over 6-Year Low of 7.6%

The annual inflation rate in Ghana eased to 7.6 percent in September 2019, its lowest level since August 2013, from 7.8 percent in the previous month. Prices continued to slow for non-food products while rose further for food.

Year-on-year, prices slowed further for non-food products (7.0 percent vs 7.4 percent in August), of which clothing & footwear (6.1 percent vs 6.6 percent); transport (8.7 percent  vs 10.2 percent); furnishings (5.6 percent vs 6.1 percent); alcoholic beverages & tobacco (12.2 percent sv 12.9 percent); restaurants & hotels (4.2 percent vs 4.8 percent). Meanwhile, cost rose faster for housing & utilities (10 percent vs 9.9 percent), on the back of recent electricity and water tariffs hikes; health (5.5 percent vs 5.4 percent) and recreation & culture (7.5 percent vs 7.4 percent). At the same time, inflation was steady for education (at 2.7 percent).

On the other hand, food inflation picked up (8.5 percent vs 8.2 percent), mainly pushed up by fruits & nuts (26.9 percent); coffee and coffee substitutes (15.3 percent); cocoa drinks (14.8 percent); fruit & vegetable juices (11.4 percent); cereals & cereal products (9.9 percent) and vegetables, tubers, plantains, cooking bananas and pulses (8.9 percent).

On a monthly basis, consumer prices dropped 0.1 percent.

Ghana Inflation Rate at Over 6-Year Low of 7.6%

Ghana Statistical Service Luisa Carvalho | Luisa Carvalho |
10/16/2019 2:44:02 PM