Tag: Consumer Price Index
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Continuous increase in food, transport prices push April inflation to 23.6%
The continuous increase in food and transport prices across the country has pushed the national year-on-year inflation for April 2022 to 23.6 percent. This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service. The rate is 4.2 percentage points higher than the 19.4% recorded in March 2022. The rise…
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Rent and Transport associated prices push inflation to almost 14%
A significant increase in prices associated with Housing, Water, Electricity, Gas and other Fuel (28.7%), as well as Transport (17.4%), has pushed the rate of inflation for January 2022 to 13.9 percent. This is captured in the Consumer Price Index (CPI) data for January 2022, released by the Ghana Statistical Service. The rate is 1.3…
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Ghana’s inflation rate accelerates to 12.6% in December 2021
Data from the Ghana Statistical Service shows that the year 2021 ended with a national inflation rate of 12.6%. Compared to the 12.2% recorded in November 2021. This new figure represents a 0.4% rise in the inflation rate. Month-on-month inflation between November and December 2021 was 1.2% This is the 7th consecutive time the inflation…
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Food prices push August inflation rate to 9.7%
The continuous rise in the prices of food items continues to dominate overall inflation in Ghana. Data from the Ghana Statistical Service indicates that the year-on-year inflation rate for August 2021 stood at 9.7. Food inflation in the month of August stood at 10. 9 relative to nonfood inflation of 8.7 which indicates a differential…
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Inflation rises for first time since February 2021; now at 7.8%
Ghana’s national year-on-year inflation rate has once again taken an upward turn, albeit marginally, after two months of consecutive drops, to hit 7.8 percent in June 2021. This increase is 0.3 percentage points higher than the 7.5 percent recorded in May this year. Inflation is often referred to as a “measure of the increase in…
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Inflation rate drops further to 7.5% in May; lowest in over a year
Ghana has, for the second consecutive time this year, recorded the lowest year-on-year inflation rate. The inflation rate recorded for the month of May 2021 was 7.5 percent, which is one percentage point lower than the 8.5 percent recorded in April this year. The figure falls within the government’s medium-term inflation target of 8.0±2 percent…
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Inflation rate falls to 8.5% in April; closest to yearly target
Ghana has recorded the lowest year-on-year inflation since the emergence of the COVID-19 pandemic. The inflation rate recorded for the month of April 2021 was 8.5 percent, which is 1.8 percentage points lower than the 10.3 percent recorded in March this year. The figure falls within the medium-term inflation target of 8.0±2 percent. Before the…
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Inflation drops to 10.1%; lowest level since March 2020
The national year-on-year inflation rate in Ghana has dropped for the third consecutive time falling to 10.1 percent in the month of October. The inflation rate for October is therefore 0.3 percentage point lower than the inflation rate for the month of September. The decrease was influenced by the lower inflation levels of some non-food…
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GSS introduces Technical Methodology manual to aid calculation of CPI
The Ghana Statistical Service (GSS) has made publicly available, the CPI Technical Methodology Manual to help citizens understand how the Consumer Price Index (CPI) is computed. The technical manual, according to the Government Statistician, Prof Samuel Kobina Annim, “is a reference tool for anyone who wishes to understand how CPI and associated inflation statistics are…
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Inflation rate sees further drop in September
Ghana has for the second time, recorded a drop in inflation rate since the country recorded its first case of COVID-19 in March this year. The year-on-year inflation rate for September, which is 10.4 percent, represents a 0.1 percent drop from the 10.5 percent recorded in August this year. This essentially means that in the…