Inflation rate in Ghana

Inflation in Ghana

The inflation rate in Ghana was recorded at 11.50 percent in August of 2013. Inflation Rate in Ghana is reported by the Ghana Statistical Service. From 1998 until 2013, Ghana Inflation Rate averaged 17.3 Percent reaching an all-time high of 63.0 Percent in March of 2001 and a record low of 0.4 Percent in May of 1999. In Ghana, the most important components in the Consumer Price Index (CPI) are Food and Non Alcoholic Beverages (43.6 percent of total weight); Housing, Water, Electricity, Gas and Other Utilities (9.5 percent) and Clothing and Footwear (8.9 percent). Transport account for 7.2 percent of total index, Miscellaneous Goods and Services for 7 percent, Hotels, Cafés and Restaurants for 6 percent and Furnishing and Household Equipment for 4.6 percent. Education represents 3.8 percent of total weight, Recreation and Culture another 2.7 percent and Communication 2.6

percent. Health accounts for the remaining 2.4 percent and Alcoholic Beverages, Tobacco and Narcotics 1.6 percent.  Below is Ghana’s Inflation Rate (2008 - 2013) - actual values, historical data, forecast, chart, statistics and economic calendar.

Source: tradingeconomics.com

CALENDAR	GMT	COUNTRY	EVENT	REFERENCE	ACTUAL	PREVIOUS	CONSENSUS	FORECAST
2013-04-10	03:30 PM	GHANA	INFLATION RATE YOY	2013-03-31	10.4%	10%
2013-05-15	11:30 AM	GHANA	INFLATION RATE YOY	2013-04-30	10.6%	10.4%
2013-06-12	11:30 AM	GHANA	INFLATION RATE YOY	2013-05-31	10.9%	10.6%		10.71%
2013-09-11	03:00 PM	GHANA	INFLATION RATE YOY	2013-08-31	11.5%	11.8% (R)		11.56%
2013-10-09	11:30 AM	GHANA	INFLATION RATE YOY	2013-09-30		11.5%		11.72%
2013-11-13	10:30 AM	GHANA	INFLATION RATE YOY	2013-10-31				11.78%
2013-12-11	10:30 AM	GHANA	INFLATION RATE YOY	2013-11-30				12.08%

PRICES	LAST		PREVIOUS	HIGHEST	LOWEST	FORECAST		UNIT
CONSUMER PRICE INDEX (CPI)	112.80	2013-08-15	113.60	438.20	38.00	205.73	2013-09-30	INDEX POINTS
INFLATION RATE	11.50	2013-08-31	11.80	63.00	0.40	11.72	2013-09-30	PERCENT
PRODUCER PRICES	302.30	2013-07-15	303.90	303.90	135.81	306.77	2013-08-31	INDEX POINTS

In August of 2013, Ghana’s annual inflation rate eased for the first time in eight months to 11.5 percent, from 11.8 percent in the previous month, due to lower noon-food prices

Year-on-year, prices of food and non-alcoholic beverages increased 7.9 percent, 0.6 percentage points higher than the 7.3 per cent recorded in July. Cost of fish and seafood recorded the highest increase (10.7 percent), followed by prices of fruit (10.6 percent) and vegetables (8.2 percent).

The non-food group year-on-year inflation rate slowed to 14.2 percent in August, compared to 15.4 percent in July. Miscellaneous goods and services recorded the highest rate of 17.2 percent followed by clothing and footwear (16.7 percent), transport (16.6 percent), furnishing, household equipment and routine maintenance (16.5 percent) and housing, water, electricity and other utilities (15.9 percent). Inflation was lowest in the Communications subgroup (1.5 percent).

On a month-over-month basis, inflation rate declined 0.7 percent, from 1.3 percent in July.

Source: http://www.tradingeconomics.com/ghana/inflation-cpi