Wednesday March 15 2017
Ghana Inflation Rate Lowest Since November 2013
Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana slowed slightly to 13.2 percent in February of 2017 from 13.3 percent in the previous month. It was the lowest inflation rate since November of 2013 mainly due to a decline in the price of fuel.

Non-food inflation fell to 16.4 percent (16.6 percent in the previous month) as cost increased at slower pace for transport (23.3 percent from 24.6 percent), miscellaneous goods and services (15.3 percent from 15.9 percent), clothing and footwear (17.8 percent from 18 percent), education (19.6 percent from 25.1 percent) and health (17.1 percent from 18.2 percent).

Additional upward pressure came from: recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.5 percent from 22.1 percent), hotels, cafés and restaurants (13.9 percent from 13.3 percent), alcohol beverages and tobacco (13.9 percent from 13.7 percent) and communication (10.8 percent from 12.6 percent).

Meanwhile, prices of food and non-alcoholic beverages items rose faster by 7.1 percent from 7 percent in January, namely fish and sea food (14.3 percent), meat and meat products (11.2 percent), mineral water, soft drinks, fruit and vegetable juices (7.9 percent) and coffee, tea and cocoa (7.4 percent).

On a monthly basis, consumer prices increased 0.6 percent, following a 2.8 percent gain in the previous month.




Wednesday February 15 2017
Ghana Inflation Rate Lowest Since November 2013
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana slowed to 13.3 percent in January of 2017 from 15.4 percent in the previous month. It was the lowest inflation rate since November of 2013, as non-food cost rose at a slower pace namely for housing and utilities and transport and food prices also increased less.

Non-food inflation fell to 16.6 percent (18.2 percent in the previous month) as cost increased at slower pace for housing and utilities (4.4 percent from 20.2 percent), transport (24.6 percent from 27.2 percent) and health (18.2 percent from 18.5 percent).

Additional upward pressure came from: education (25.1 percent from 23.4 percent), recreation and culture (24.4 percent from 20.3 percent), furnishings and household items (22.1 percent from 18.8 percent), clothing and footwear (18 percent from 16.4 percent), miscellaneous goods and services (15.9 percent from 14.7 percent), hotels, cafés and restaurants (13.3 percent from 13.7 percent), alcohol beverages and tobacco (13.7 percent from 13.5 percent) and communication (12.6 percent from 10.8 percent).

Moreover, prices of food and non-alcoholic beverages items increased at a slower 7 percent from 9.7 percent in December, namely vegetables (1.6 percent from 5.5 percent), milk and cheese products (4.6 percent from 6.9 percent), fruits (5.4 percent from 9.2 percent), meat and meat products (11.6 percent from 15 percent) and coffee, tea and cocoa (7.8 percent from 14 percent).

On a monthly basis, consumer prices jumped 2.8 percent, following a 0.9 percent increase in the previous month.


Wednesday January 11 2017
Ghana Inflation Rate Lowest Since July 2014
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana eased to 15.4 percent in December of 2016 from 15.5 percent in the previous month. It was the lowest inflation rate since July of 2014, as non-food cost increased at a slower pace mainly due to education, furniture and household equipment while prices rose faster for food.

Non-food inflation stood at 18.2 percent (18.7 percent in the previous month) as cost increased at slower pace for transports (27.2 percent from 27.8 percent), education (23.4 percent from 25.7 percent), recreation and culture (20.3 percent from 21 percent), housing and utilities (20.2 percent from 20.3 percent), furnishings and household items (18.8 percent from 20.3 percent), clothing and footwear (16.4 percent from 17.2 percent), and health (18.5 percent from 20 percent). Additional upward pressure came from: miscellaneous goods and services (14.7 percent from 14.2 percent), hotels, cafés and restaurants (13.7 percent from 12.7 percent), alcohol beverages and tobacco (13.5 percent from 13.8 percent) and communication (10.8 percent from 10.1 percent).

Meanwhile, prices of food and non-alcoholic beverages items rose 9.7 percent from 9.3 percent in November namely meat and meat products by 15 percent (13.3 percent in November), coffee, tea and cocoa by 14 percent (at the same pace as in the previous month) and fish and sea food by 13.9 percent (from 13.4 percent).

On a monthly basis, consumer prices rose 0.9 percent, following a 0.8 percent increase in a month earlier.


Thursday December 29 2016
Ghana Economy Expands 4% YoY in Q3
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The GDP in Ghana expanded 4 percent year-on-year in the third quarter of 2016, following a downwardly revised 2.3 percent growth in the preceding quarter. The expansion was boosted by the services sector and a recovery in industrial output after resumption of oil production from the Jubilee field. A year earlier, GDP growth was lower at 3.5 percent.

The industry sector recovered and went up 3.9 percent, following a 6.5 percent contraction in Q2. Output advanced for construction (+16.3 percent from -1.7 percent in Q2), electricity (+3.9 percent from 11.7 percent in Q2) and mining and quarrying (1.2 percent from -29 percent in Q2) but contracted for manufacturing (-6 percent from 13 percent in Q2) and water and sewerage (-7.8 percent from -8.1 percent in Q2).

The services sector rose less by 4.7 percent (5.7 percent in Q2), boosted by transport and storage (+8.6 percent from 9 percent in Q2), trade (4.1 percent, the same as in Q2), information and communication (+7.4 percent from 13.1 percent in Q2) and public administration, defense and social security (+6.1 percent from 3.8 percent in Q2).

Agriculture grew at a slower 2.3 percent (3.6 percent).


On a quarterly basis, the economy advanced 1.1 percent, compared with 0.5 percent growth in the previous quarter.
The GDP advanced 3.9 percent in 2015, the lowest pace in 15 years. The government expects the economy to expand 4.1 percent in 2016 and around 8 percent in 2017 as new offshore oil and gas comes onstream.





Wednesday December 14 2016
Ghana Inflation Rate Lowest Since July 2014
Ghana Statistical Service | Deborah Neves | deborah.neves@tradingeconomics.com

The annual inflation rate in Ghana eased to 15.5 percent in November of 2016 from 15.8 percent in the previous month. It was the lowest inflation rate since July of 2014, as cost for utility and services rose at a slower pace, while prices rose further for food and transport. On a monthly basis, consumer prices rose 0.8 percent.

Non-food inflation edged down to 18.7 percent (19.4 percent in the previous month) as cost increased at slower pace for recreation and culture (21 percent from 24 percent), housing and utilities (20.3 percent from 23.1 percent), furnishings and houselhold items (20.3 percent from 22.3 percent), education (25.7 percent from 25.8 percent), clothing and footwear (17.2 percent from 19.2 percent), and health (20 percent from 20.9 percent). Meanwhile, prices of food and non-alcoholic beverages items rose 9.3 percent from 8.7 percent in October namely mineral water, soft drinks, fruit by 14.1 percent; coffe, tea and cocoa by 14 percent; fish and sea food by 13.4 percent, meat and meat products by 13.3 percent. Additional upward pressure came from: transports (27.8 percent from 27.7 percent), miscellaneous goods and services (14.2 percent from 13.5 percent), hotels, cafés and restaurants (12.7 percent from 12 percent) and communication (10.1 percent from 9 percent).

On a monthly basis, consumer prices rose 0.8 percent, following a 2.7 percent growth in a month earlier. 


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.