Wednesday November 09 2016
Ghana Inflation Rate Lowest Since 2014 in October
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation in Ghana eased to 15.8 percent in October of 2016, from 17.2 percent in the preceding month. It was the lowest inflation rate since July of 2014 as cost of food and service charges rose at a slower pace.

Year-on-year, non-food inflation slowed to 19.4 percent from 21.6 percent in September. Also, food inflation eased to 8.7 percent from 9.0 percent.

On a monthly basis, consumer prices increased 1.4 percent after a 0.1 percent decline in September.




Wednesday October 12 2016
Ghana Inflation Rate at 3-Month High of 17.2%
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation in Ghana rose to 17.2 percent in September of 2016, from 16.9 percent in a month earlier. It was the highest reading since July mostly boosted by cost of non-food imported items (18.7 percent from 17.3 percent in August).

Compared to September 2015, prices of food and non-alcoholic beverages items rose 9 percent from 8.5 percent in August, namely mineral water, soft drinks, fruit by 16.2 percent; coffee, tea and cocoa 16 percent; sugar, jam, honey, chocolate by 13 percent; meat and meat products by 13.1 percent. Non-food inflation edged up to 21.6 percent (21.5 percent) as cost went up for transport (27.3 percent from 27.4 percent); housing and utilities (28 percent from 28.1 percent); clothing and footwear (23.2 percent from 22.8 percent); recreation and culture (27.6 percent from 27.2 percent); furnishings and household items (23 percent from 22 percent); education (32.5 percent from 34.1 percent); miscellaneous goods and services (31.1 percent from 14.2 percent); health (15.4 percent from 14.2 percent); hotels, cafes and restaurants (16.1 percent from 15.1 percent) and communication (11.3 percent from 12 percent).

On a monthly basis, consumer prices edged down 0.1 percent, following a 0.6 percent decline in a month earlier. 



Wednesday September 28 2016
Ghana Economy Advances 2.5% YoY in Q2
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The GDP in Ghana expanded 2.50 percent year-on-year in the second quarter of 2016, following a downwardly revised 4.8 growth in the previous quarter. The slowdown was mostly due to a 49 percent fall in oil output after a technical fault at the main production vessel stopped production between March and May.

Year-on-year, industrial production shrank 5 percent while agriculture production grew 4.1 percent and services expanded by 6 percent. 

On a quarterly basis, the GDP advanced 0.6 percent. 

The economy advanced 3.9 percent in 2015, the lowest pace in 15 years and it is expected to expand between 4.1 percent to 4.3 percent in 2016.




Wednesday September 14 2016
Ghana Infaltion Rate Fastens to 16.9% in August
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation in Ghana accelerated to 16.9 percent in August of 2016, from 16.7 percent in the previous month. The rise in consumer prices was mainly due to higher cost of housing and utilities and transport.

Year-on-year, prices went up for food and non-alcoholic beverages (8.5 percent from 8.6 percent); transport (27.4 percent from 27.2 percent in July) and housing and utilities (28.1 percent from 25.4 percent). Additional pressure came from: clothing and footwear (22.8 percent from 24.3 percent); recreation and culture (27.2 percent from 28.3 percent); furnishings and household items (22 percent from 23 percent); education (34.1 percent from 35.4 percent); miscellaneous goods and services (14.2 percent from 17.1 percent); health (14.2 percent from 14.6 percent); hotels, cafes and restaurants (15.1 percent from 15.5 percent) and communication (12 percent from 13 percent).

On a monthly basis, consumer prices fell 0.6 percent, following a 0.9 percent rise in the previous month. Cost of food dropped 1.4 percent, housing and utilities went down 0.5 percent and transport edged down 0.1 percent.


Wednesday August 10 2016
Ghana Inflation Rate Eases to 16-Month Low in July
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation rate in Ghana slowed to 16.7 percent in June of 2016, from 18.4 percent in the previous month. It was the lowest figure since March of 2015, driven by slower rise in cost of housing and utilities and transport due to stable cedi.

Compared to July 2015, prices went up at slower rate for transport (27.2 percent from 40.3 percent); housing and utilities (25.4 percent from 32.8 percent), while cost of food and non-alcoholic beverages went up at same pace (8.6 percent). Other upward pressure came from: clothing and footwear (24.3 percent from 22.6 percent); recreation and culture (28.3 percent from 27.4 percent); furnishings and household items (23 percent from 21.4 percent); education (35.4 percent from 33.3 percent); miscellaneous goods and services (17.1 percent from 15.5 percent); health (14.6 percent from 13.9 percent); hotels, cafes and restaurants (15.5 percent from 14.9 percent) and communication (13 percent from 12.5 percent).

On a monthly basis, consumer prices rose 0.9 percent, following a 1.3 percent increase in the preceding month. Cost of housing and utilities and transport both went up by 1.4 percent, while food prices fell 0.8 percent.


Wednesday July 13 2016
Ghana Inflation Rate at 6-Month Low of 18.4%
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

The annual inflation rate in Ghana eased to 18.40 percent in June of 2016, from 18.9 percent in the previous month. It was the lowest reading since December of 2015, as stability of cedi led to slower rise in cost of fuel and imported items.

Compared to June 2015, prices rose at slower pace for transport (40.3 percent from 40.9 percent); housing and utilities (32.8 percent from 35.7 percent), while cost of food and non-alcoholic beverages went up at faster pace(8.6 percent from 8.5 percent in May). Other contributors to the rise: clothing and footwear (22.6 percent from 22.8 percent); recreation and culture (27.4 percent from 27.9 percent); furnishings and household items (21.4 percent from 21.8 percent); education (33.3 percent from 32.3 percent); miscellaneous goods and services (15.5 percent from 15.4 percent); health (13.9 percent from 13.9 percent); hotels, cafes and restaurants (14.9 percent from 14.4 percent) and communication (12.5 percent from 13.3 percent).

On a monthly basis, consumer prices increased 1.3 percent, following a 1.1 percent rise in May. Food prices went up by 1.5 percent, housing and utilities rose by 0.9 percent, transport increased by 1.1 percent.


Thursday June 23 2016
Ghana GDP Growth Accelerates to 4.9% in Q1
Mojdeh | mojdeh@tradingeconomics.com

The economy of Ghana expanded by 4.9 percent year-on-year in the three months to March of 2016, following a downwarldly revised 4.1% percent expansion in the previous period and 4.9 percent growth in the same period of 2015.

Year-on-year, the services sector expanded by 8.8 percent (+5.2 percent in Q4) boosted by information and communications technology (+18.8 percent). Agriculture advanced 2.8 percent (+1.7 percent in Q4), while industry production contracted by 1.1 percent, following a 7.2 percent growth in previous quarter. 

The quarter-on-quarter growth was recorded at 1.1 percent in the first three months of 2016, compared to a 1 percent expansion the same period of 2015.

The GDP advanced 3.9 percent in 2015 and the government is expecting a growth of 5.4 percent for 2016.


Wednesday June 15 2016
Ghana Inflation Rate Accelerates to 18.9% in May
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

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.


Wednesday May 11 2016
Ghana Inflation Rate Slows to 18.7% in April
Mojdeh | mojdeh@tradingeconomics.com

Annual inflation in Ghana eased to 18.7 percent in April of 2016 from 19.2 percent in March, due to slower rise in cost of housing and utilities, food and transport.

Compared to April 2015, prices of food and non-alcoholic beverages (8.3 percent from 8.4 percent); housing and utilities (35.8 percent from 39.6 percent); transport (40 percent from 40.4 percent); clothing and footwear (21 percent from 23 percent) and education (27.7 percent from 30.9 percent) went up at a slower pace. Meantime, cost of miscellaneous goods and services (18.3 percent from 14.8 percent); hotels, cafes and restaurants (15.9 percent from 14.4 percent); furnishings and household items (22.9 percent from 21.5 percent); recreation and culture (26.7 percent from 28.1 percent)  and communication (13.6 percent from 12.9 percent) increased faster. Cost of health (13.7 percent from 13.7 percent) rose at the same pace.


On a monthly basis, consumer prices rose 1.4 percent, following a 1.7 percent increase in the previous month. Food prices went up 1.5 percent, housing and utilities rose 0.8 percent, transport increase 0.7 percent.


Wednesday April 27 2016
Ghana GDP Expands 4.9% in Q4
Ghana Statistical Service | Mojdeh Kazemi | mojdeh@tradingeconomics.com

Ghana's economy advanced 4.9 percent year-on-year in the fourth quarter of 2015, compared to an upwardly revised 3.7 percent growth in the three months to September and a 4.5 percent expansion a year earlier, preliminary estimates showed. It is the highest growth rate in a year boosted by a rebound in industrial production and an acceleration in services activities.

Year-on-year, the industrial sector grew 7.2 percent, rebounding from drops in the previous two quarters, mostly boosted by mining and quarrying (+9.6 percent), construction (+6.2 percent) and manufacturing (+4.2 percent). Services advanced 5.2 percent: health and social work (+18.2 percent) and public administration and defense, social security (+17.1 percent) showed the highest growth rates. Agriculture expanded by 4 percent, due to growth in livestock (+6.5 percent), crops and cocoa (+4 percent), fishing (+3.5 percent) and forestry and lodging (+1.4 percent).

Quarter-on-quarter, the GDP expanded 1.3 percent, following a 1 percent growth in the three months to September in 2015.

Considering full 2015, the economy advanced 3.9 percent, lower than 4 percent in 2014. It was the slowest growth rate in 20 years, due to a fall in production key commodities. Cocoa bean production dropped to the lowest in five years in the last season. Gold and electricity production fell as well as oil. Excluding oil, the GDP expanded 4.1 percent.