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Cost of Living in Ghana Inflation rate for May hits 18.9%

The Ghana Statistical service puts this down to pressure from price hikes in the costs of transport, housing, water, electricity and education.

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Ghanaian Food Market play

Ghanaian Food Market

The rate of increase in prices of goods and services, identified as the rate of inflation, has increased to 18.9%, representing a  0.2%  increase in the rate for April, 2016 which was 18.7%.

The Ghana Statistical service puts this down to pressure from price hikes in the costs of transport, housing, water, electricity and education.

May’s monthly change rate was 1.1%

READ MORE: Inflation in Ghana April inflation drops marginally to 18.7%

The Consumer Price Index-CPI is the change in the general price levels of goods and services purchased and consumed by households.

The base year of the CPI is 2012 with an index of 100. The CPI measures two components grouped under food and non-food components.

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