Ghana Financial Market

Ghana Financial Sector News

Ghana Statistical Figures

Ghana Inflation Rate Drops To 9% In January; Transport Account For 7.2% Of The Inflation Basket

  • Transport account for 7.2% Of CPI, the inflation calculating Basket
  • Housing,Water, Electricity, Gas, And other Utilities Constitute Only 9.5%
  • Food and Non Alcoholic Beverages Make up 43.6% of total weight
The inflation rate in Ghana was recorded at 9 percent in January of 2019.

Inflation Rate in Ghana averaged 16.52 percent from 1998 until 2019, reaching an all time high of 63 percent in March of 2001 and a record low of 0.40 percent in May of 1999.

Inflation Basket (CPI components)

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.

Source: Ghana Statistical Service

Credit: Trading economics

(By Stefanie Moya)

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