Friday, April 19, 2024
Latest:
ECONOMYTOP STORY

Ghana inflation rises by 0.2% in May to 18.9%

editor

Annual inflation in Ghana increased to 18.9 percent in May of 2016 from 18.7 percent in April. The rise of 0.2 per cent is said to be mostly due to a 5 per cent jump in cost of fuel early in the month. Food and housing and utilities which were on the increase were other main drivers of the moderate rise.

According to statistics by Ghana Statistical Service (GSS) monitored by Business247, on a monthly basis, consumer prices went up 1.1 percent, following a 1.4 percent rise in the preceding month.   Inflation Rate in the country averaged 17.16 percent from 1998 until 2016, reaching an all time high of 63 percent in March of 2001 and a record low of 0.40 percent in May of 1999.

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 per cent 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.

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. Ghana Inflation Rate Slows to 18.7 percent in April

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.

Ghana’s annual inflation rate was recorded at 18.5 percent in February of 2016, down from 19 percent in the preceding month. The inflation rate eased for the first time in six months as the stability of the cedi during the month avoided further rises in cost of imported items.

Consumer prices in Ghana increased 19 percent year-on-year in January of 2016, following a 17.7 percent rise in the previous month. It is the highest inflation rate since August of 2009, mainly boosted by prices of fuel, food and utilities after the country raised tariffs for electricity and water in December to increase competition in the sector.

You May Also Like

NSE emerges preferred host of 2018 ASEA Conference

editor

Nigerians in Diaspora write Buhari, demand prosecution of killers of #EndSARS protesters

editor

Nigerian, French navies storm Nigerian waters for piracy

editor

56 thoughts on “Ghana inflation rises by 0.2% in May to 18.9%”

  • Wow! This could be one particular of the most useful blogs We’ve ever arrive across on this subject. Actually Great. I’m also a specialist in this topic therefore I can understand your hard work.

  • Simply want to say your article is as astounding. The clarity in your post is just cool and i could assume you’re an expert on this subject. Fine with your permission allow me to grab your RSS feed to keep updated with forthcoming post. Thanks a million and please carry on the enjoyable work.

  • I simply want to mention I am all new to blogging and actually loved your web-site. Almost certainly I’m likely to bookmark your blog post . You amazingly have fabulous stories. Thanks a lot for sharing with us your blog site.

  • Thanks for ones marvelous posting! I truly enjoyed reading it, you are a great author.I will be sure to bookmark your blog and definitely will come back down the road. I want to encourage that you continue your great writing, have a nice holiday weekend!

  • I just want to say I’m very new to blogs and definitely loved this blog. Very likely I’m planning to bookmark your website . You definitely come with amazing posts. Bless you for sharing your blog site.

  • I simply want to mention I’m newbie to blogs and definitely loved this web-site. Very likely I’m likely to bookmark your website . You certainly have awesome articles and reviews. Thanks for sharing with us your website page.

  • I just want to mention I am beginner to blogging and site-building and honestly savored your web-site. Likely I’m planning to bookmark your site . You certainly have great posts. With thanks for sharing with us your web-site.

  • In summation, conclusion the features you would like to comprehend in your website. The next careful is to pick out a website layout and planning how to arrange

  • I simply want to mention I am just beginner to blogging and definitely loved this web-site. Very likely I’m going to bookmark your site . You surely have terrific writings. Thanks for sharing your website page.

  • I simply want to say I am newbie to blogging and actually enjoyed you’re blog site. Almost certainly I’m want to bookmark your blog post . You actually come with great stories. Thanks a lot for revealing your website.

  • I just want to tell you that I’m very new to weblog and certainly savored this web-site. Most likely I’m going to bookmark your website . You definitely have fantastic article content. Thanks for sharing with us your web page.

  • I just want to mention I am just new to blogging and truly enjoyed you’re page. More than likely I’m planning to bookmark your website . You absolutely come with impressive article content. Kudos for revealing your web site.

  • I just want to mention I am very new to blogging and site-building and honestly enjoyed this web-site. Probably I’m want to bookmark your website . You actually have very good articles and reviews. With thanks for sharing your blog site.

  • I just want to say I am just beginner to weblog and certainly liked your web blog. Very likely I’m likely to bookmark your blog . You actually have very good writings. Thanks a bunch for sharing your blog site.

  • I simply want to tell you that I am beginner to weblog and definitely liked your blog. Likely I’m want to bookmark your blog post . You actually come with very good articles. Cheers for sharing with us your blog.

  • It’s perfect time to make some plans for the future and it is time to
    be happy. I’ve read this post and if I may I wish
    to counsel you some fascinating things or suggestions.
    Perhaps you could write next articles relating to this article.

    I wish to read more issues approximately it! http://yahoo.net

  • Its like you read my mind! You seem to know a lot about this, such as you wrote
    the ebook in it or something. I believe that you simply could do
    with a few p.c. to force the message house a little bit, but other than that, this is magnificent blog.
    A great read. I’ll definitely be back. http://yahoo.co.uk

  • those polyurethane inflatable boats are very sturdy and some are kevlar lined too but they are expensive-

  • Hello! I just wish to give an enormous thumbs up for the good information you might have right here on this post. I will probably be coming back to your weblog for more soon.

  • Appreciate it for this post, I am a big big fan of this internet site would like to continue updated.

  • Thanks for your tips. One thing really noticed is always that banks and also financial institutions have in mind the spending behaviors of consumers and as well understand that most people max outside their real credit cards around the trips. They sensibly take advantage of this fact and commence flooding your current inbox as well as snail-mail box having hundreds of 0 APR credit card offers immediately after the holiday season closes. Knowing that if you are like 98 of the American community, you’ll rush at the one opportunity to consolidate consumer credit card debt and shift balances towards 0 apr interest rates credit cards.

  • I’ve read several excellent stuff here. Definitely value bookmarking for revisiting. I wonder how much attempt you put to make this type of excellent informative website.

  • Usually I do not post on blogs, but I would like to say that this article really forced me to do so! Thanks, really nice article.

  • Good way of explaining, and pleasant post to take data about my presentation topic, which i am going to deliver in college.|

  • Intuit certified technicians call +1-844-722-6675 for technical assistance. Get support by experts. Call our toll free number today for QuickBooks Support. Supported Keywords:Quickbooks technical support | Quickbooks support | QuickBook technical support | Quickbook support | QuickBooks support contact number | Quickbooks Support Phone Number | Quickbooks Phone Support | Quickbooks Canada 2014 | Quickbooks support toll free number | Quickbooks help line number | support for Quickbooks | Quickbooks tech support | Quickbooks contact | QuickBooks 2008 Support | QuickBooks 2009 Support | QuickBooks 2010 Support | QuickBooks 2011 Support | QuickBooks 2012 Support | QuickBooks 2013 Support |QuickBooks 2014 Support | QuickBooks Technical Support | QuickBooks 2015 Help | QuickBooks 2015 Support |

  • Aloha, I found your blog on Bing Weblogs and think it is pretty intriguing and delivers fantastic material. Thank you regarding this superb post, I will certainly promote this on Twitter. Have a pleasant day on interior design ideas for home and office

  • I admire the beneficial information and facts you provide in your posts. I will bookmark your blog and have my children examine up right here often. From: home interior decoration design ideas

  • I really surprised of the details that you have actually have actually shared. I understand you have actually helped a great deal of individuals with this write-up.

  • Hiya! You some kind of professional website hosting? Great message. Are you able to tell me learn how to subscribe your blog?

  • Hey, thanks for sharing I always look forward to reading your posts one of the few blogs I still follow home decorated

  • Interesting, I wonder what the statistics are on your first point there on homedecorated

  • Never Ever give up: Even though you fail initially; Dont manage to get a great deal of views at first, do your self a favour, do not give up.

  • As a new collector, i didnt know what to expect. my katana showed up ahead of schedual which was fantastic. Opened the package and i was amazed at the quality i was looking at. Actual hamon, real ray skin grip, razor sharp and gorgeous. Came with certificate of authenticity and a cotton bag. Vary strong construction! Feels great in hands and didnt wobble (tight). Can NOT get a better sword for your money!

  • I own many swords and this is one of my top. This is not the cheap crap you get on Budk and similar sites, yet relatively inexpensive. I could write a long list of pro’s, but I’ll make it simple. You will not be disappointed. I was so impressed that I’ve already ordered the 1060 version of this sword.

  • A good quality sword for the price. I want more in order to prepare for the coming zombie apocalypse.

  • awesome sword !!!!!!!, I got 742 out of 2000, it’s a shame though that the certificate of authenticity I received is damaged.

  • QuickBooks Payroll Technical Support Phone Number USA >>>>>>>>>>>>>>>> 1-844-722-6675 , 1.844<722<6675=@= QuiCKbOOksSupport Phone NumBER!@!!1-844-722-6675 @@! Quickbooks SuPpoRT 1-844-722-6675 QUickBOokS SupPORT PHonE NumbER USA!JEETôßPppu? 1 844 722 6675 Quickbooks SuPpoRT PhoNENumber..,O»G!!!!??ô US 1-844-722-6675 quickbooks help TELEPhoNE Number..,, !!!!??ôquickbooks help Number..,, !!!!??ôquickbooks SuPpoRT Number..,, quickbooks Number..,, quickbooks PhoNE Number..,, quickbooks TELEPhoNENumber.. 1-844-722-6675 ,, quickbooks 24 hourNumber..,, quickbooks customer SuPpoRT Number..,, QuickBooks tech SuPpoRTPhoNEnumber, Intuit QuickBooks Tech SuPpoRT PhoNE Number, QuickBooks Help Desk PhoNE Number, QuickBooks SuPpoRT number, QUickBOokS SupPORT PHonE NumbER, QuickBooks1-844-722-6675 PhoNEnumber, QuickBooks 1-844-722-6675 SuPpoRT number, QUickBOokS SupPORT/quickbooks-technical-support-number-1-844-722-6675- PHonENumbER. It is very popular toll free number which vide by QuickBooks SuPpoRT, QuickBooks Customer PhoNE Number, QuickBooks CustomerNumber, 1-844-722-6675 QuickBooks CustomerSuPpoRT PhoNE Number, QuickBooks Customer SuPpoRT Number,

  • Excellent blog here! Also your web site loads up fast! What web host are you using? Can I get your affiliate link to your host? I wish my website loaded up as fast as yours lol

  • This is my seventh samurai sword that I have purchased over the past 25 years. I must say that I was very impressed with the overall quality of this sword. It has a great feel of balance and strength and looks like a sword that you might otherwise pay around $800. The Tsuba (handgaurd) is beautifully detailed along with the rest of the sword ornamentation. I am extremely happy to add this beautiful sword to my collection.

  • Finally I found what I was looking for, only took 4 pages of search results.

  • Hello There. I found your blog using msn. This is a really well written article. I’ll be sure to bookmark it and return to read more of your useful information. Thanks for the post. I will certainly return.|

  • download film terbaru sub indo has diamond like clarity and also in order for this to be striking you must use both that and.

Comments are closed.