Ghana Statistical Service (GSS)

Statistical Bulletin

CONSUMER PRICE INDEX (CPI)

DECEMBER 2021

New Series (2018=100)

For technical enquiries contact:

Ghana Statistical Service (GSS), Head Office

Economic Statistics Division
Tel No: +233-302-664382
Email:
econsstats@statsghana.gov.gh Date: Jan 12, 2022

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Consumer Price Index (CPI) for DECEMBER 2021

CONTENTS 2

Highlights for December 2021 3

Tables 5

Table 1: Consumer Price Index, August 2019 to December 2021 5

Table 2: Food and non-food inflation, August 2019 to December 2021 6

Table 3: Non-Food Inflation by COICOP* major groups, December 2021 7

Table 4: Food* Inflation by subgroups, December 2021 8

Table 5: Regional CPI, December 2021 9

Table 6: Regional CPI and change rates, December 2021 10

Note:

More detailed time series data are contained in the CPI User’s guide on the GSS website
(www.statsghana.gov.gh)

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 HIGHLIGHTS DECEMBER 2021- New Series

Inflation rate for DECEMBER 2021 is 12.6%

The Combined Consumer Price Index (CPI) measures the change over time in the general
price level of goods and services that households acquire for the purpose of consumption,
with reference to the price level in 2018, the base year, which has an index of 100.

The year-on-year inflation rate as measured by the CPI was 12.6 percent in December
2021. (Figure 1). This rate of inflation for December 2021 is the percentage change in the
Consumer Price Index (CPI) over the twelve-month period, from December 2020 to
December 2021. The monthly change rate for December 2021 is 1.23 percent.

Figure 1: INFLATION, August 2019 to December 2021

% Yearly change rate (%)

15 11.410.5 10.1 10.6 12.2

9.8 10.4 9.9 10.310.3 8.5
10.6 11.3 11.2 10.4 7.5 7.8 9.0 9.7 11.0 12.6
12 7.8 7.6 7.7 8.2 7.9 7.8 7.87.8
9
Nov-19

Jul-20

Jul-21
Aug-19
Sep-19
Oct-19

Apr-20
May-20
Jun-20

Nov-20

Apr-21
May-21
Jun-21

Nov-21
Dec-19
Jan-20
Feb-20
Mar-20

Aug-20
Sep-20

Dec-20
Jan-21
Oct-20

Feb-21
Mar-21

Aug-21
Sep-21

Dec-21
Oct-21
6
3
Ghana Statistical Service (GSS)
0

Food and Non-food inflation for December 2021

The Food and Non-alcoholic beverages recorded a year-on-year inflation rate of 12.8 % for
December 2021.
The Non-Food group recorded a year-on-year inflation rate of 12.5 % in December 2021.

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Regional differentials

At the regional level, the year-on-year inflation rate ranged from 7.4 percent in the Eastern
Region to 18.6 percent in the Upper West Region. Four regions recorded inflation rates
above the national average of 12.6%.

Figure 2: Year-on-year inflation rate (%), December 2021

%
25

20 18.6
14.8 16.0
15 11.9 12.9 13.0 12.6
10.3 11.2
9.4
10 7.4
5

0
Western

Volta

Greater Accra
Upper East
Eastern

Central

Northern

Upper West

NATIONAL
Brong Ahafo

Ashanti

Ghana Statistical Service (GSS)

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Table 1: Consumer Price Index, August 2019 to December 2021

Change rate (%)

Year / Month Index 2018 = 100 Monthly (m/m) Yearly(y/y)
Aug-19 108.7 0.0 7.8
Sep-19 108.6 -0.1 7.6
Oct-19 109.0 0.4 7.7
Nov-19 109.7 0.7 8.2
Dec-19 110.0 0.3 7.9
Jan-20 111.6 1.4 7.8
Feb-20 112.1 0.4 7.8
Mar-20 113.0 0.8 7.8
Apr-20 116.6 3.2 10.6
May-20 118.6 1.7 11.3
Jun-20 119.8 1.0 11.2
Jul-20 120.5 0.5 11.4
Aug-20 120.0 -0.4 10.5
Sep-20 119.8 -0.2 10.4
Oct-20 120.1 0.2 10.1
Nov-20 120.4 0.3 9.8
Dec-20 121.5 0.9 10.4
Jan-21 122.7 0.9 9.9
Feb-21 123.6 0.8 10.3
Mar-21 124.7 0.9 10.3
Apr-21 126.6 1.5 8.5
May-21 127.6 0.8 7.5
Jun-21 129.19 1.30 7.8
Jul-21 131.30 1.63 9.0
Aug-21 131.65 0.27 9.7
Sep-21 132.50 0.64 10.6
Oct-21 133.30 0.61 11.0
Nov-21 135.20 1.40 12.2
Dec-21 136.86 1.23 12.6

Figure 3: INFLATION, August 2019 to December 2021

% Yearly change rate (%)
10.6 10.510.410.1 10.4 10.310.3 10.6 11.0
9.8 9.9 9.7
10 9.0
8.5
7.8 7.6 7.7 8.2 7.9 7.8 7.8 7.8 7.5 7.8
8

0
Dec-19
Nov-19

Jun-21
Jun-20

Nov-20
Dec-20

Sep-21

Nov-21
Dec-21
Sep-19
Oct-19

Feb-20

Jul-20

Sep-20

Feb-21

Jul-21
Oct-20

Apr-21
May-21

Oct-21
Mar-20
Apr-20
May-20

Aug-20

Jan-21
Aug-19

Jan-20

Mar-21

Aug-21

Ghana Statistical Service (GSS)

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Table 2: Consumer Price Index, August 2019 to December 2021
Year-on-year inflation (%)
Food and non- Combined Food and non-
Year / Month alcoholic beverages Non-food food
Aug-19 8.2 7.4 7.8
Sep-19 8.5 7.0 7.6
Oct-19 7.0 8.2 7.7
Nov-19 8.4 8.0 8.2
Dec-19 7.2 8.5 7.9
Jan-20 7.8 7.9 7.8
Feb-20 7.9 7.7 7.8
Mar-20 8.4 7.4 7.8
Apr-20 14.4 7.7 10.6
May-20 15.1 8.4 11.3
Jun-20 13.8 9.2 11.2
Jul-20 13.7 9.7 11.4
Aug-20 11.4 9.9 10.5
Sep-20 11.2 9.8 10.4
Oct-20 12.6 8.3 10.1
Nov-20 11.7 8.3 9.8
Dec-20 14.1 7.7 10.4
Jan-21 12.8 7.7 9.9
Feb-21 12.3 8.8 10.3
Mar-21 10.8 10.0 10.3
Apr-21 6.5 10.2 8.5
May-21 5.4 9.2 7.5
Jun-21 7.3 8.2 7.8
Jul-21 9.5 8.6 9.0
Aug-21 10.9 8.7 9.7
Sep-21 11.5 9.9 10.6
Oct-21 11.0 11.0 11.0
Nov-21 13.1 11.6 12.2
Dec-21 12.8 12.5 12.6

Figure 4: FOOD and NON-FOOD INFLATION, August 2019 to

December 2021 Yearly change rate (%)
%

NON FOOD
15.1 13.89.7 9.8 12.8
14.4 12.3
9.9
7.08.2 8.0 8.5 7.7 8.4 11.4
7.4 7.9 7.4
7.8 7.9 8.4 9.2 11.2
13.7 8.8
8.28.5 7.0 8.4 7.2 7.7
7.7
FOOD
10/1/2019
11/1/2019
12/1/2019

10/1/2020
11/1/2020
12/1/2020

10/1/2021
11/1/2021
12/1/2021
8/1/2019
9/1/2019

1/1/2020
2/1/2020
3/1/2020
4/1/2020
5/1/2020
6/1/2020
7/1/2020
8/1/2020
9/1/2020

1/1/2021
2/1/2021
3/1/2021
4/1/2021
5/1/2021
6/1/2021
7/1/2021
8/1/2021
9/1/2021

Ghana Statistical Service 6

Ghana Statistical Service

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Table 3 : Consumer Price Index, August 2019 to December 2021

Change rate (%)

Item (COICOP classification) Weight Index 2018=100 Monthly Yearly

Non-food Inflation rate 56.9 135.12 1.23 12.5

Alcoholic Beverages, Tobacco & Narcotics 3.7 137.43 1.28 9.6
Clothing and footwear 8.1 127.65 0.82 8.6
Housing, water, electricity, gas and other fuels 10.2 165.92 1.06 20.7
Furnishings, household equipment and routine household maintenance
3.2 123.16 1.50 9.6
Health 0.7 123.07 0.57 6.0
Transport 10.1 145.00 1.50 17.6
Information and communication 3.6 119.92 1.05 9.0
Recreation, sport and culture 3.5 124.02 0.71 11.4
Education services 6.5 108.83 0.05 1.0
Restaurants and accommodation services 4.6 123.22 4.47 8.9
Insurance and financial services 0.2 110.64 0.00 6.3
Personal care, social protection and miscellaneous goods and
2.4services 126.07 1.73 10.6
* Classification of Individual Consumption by Purpose
Figure 5: Year-on-year inflation rates (%) by COICOP major groups,
December 2021
Housing, water, electricity, gas and… 20.7
Transport
17.6
Recreation, sport and culture 11.4
Personal care, social protection and… 10.6
Alcoholic Beverages, Tobacco & Narcotics 9.6
Furnishings, household equipment and… 9.6
Information and communication 9.0
Restaurants and accommodation services 8.9
Clothing and footwear 8.6
Insurance and financial services 6.3
Health 6.0 %
Education services 1.0
Ghana Statistical Service (GSS)

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Table 4: Consumer Price Index, August 2019 to December 2021

Index Change rate (%)

Weight 2018=100 Monthly Yearly

Food and non-alcoholic beverages 43.12 139.11 1.24 12.8

Cereals and cereal products 8.31 139.97 1.63 18.1
Live animals, meat and other parts of slaughtered land animals
3.53 131.80 1.25 13.0
Fish and other seafood 6.71 140.61 3.32 8.7
Milk, other dairy products and eggs 1.28 132.90 0.66 12.7
Oils and fats 1.36 145.22 2.32 19.1
Fruits and nuts 0.90 144.14 3.03 2.8
Vegetables, tubers, plantains, cooking bananas and pulses9.91 142.57 0.25 9.5
Sugar, confectionery and desserts 0.87 123.93 1.03 6.3
Ready-made food and other food products n.e.c. 8.42 141.54 0.22 16.9
Fruit and vegetable juices 0.26 121.85 0.87 7.0
Coffee and coffee substitutes 0.10 128.66 -0.26 6.8
Tea, maté and other plant products for infusion 0.10 124.71 0.70 10.3
Cocoa drinks 0.00 138.23 0.13 16.6
Water 0.74 104.90 0.96 3.0
Soft drinks 0.62 130.98 1.01 13.4
* Food and non-alcoholic beverages
Figure 6: Food inflation rates (%) by major subgroups,
December 2021
OILS AND FATS 19.1
CEREALS AND CEREAL PRODUCTS 18.1
READY-MADE FOOD AND OTHER FOOD … 16.9
COCOA DRINKS 16.6
SOFT DRINKS 13.4
LIVE ANIMALS, MEAT AND OTHER PARTS … 13.0
MILK, OTHER DAIRY PRODUCTS AND EGGS 12.7
TEA, MATÉ AND OTHER PLANT PRODUCTS… 10.3
VEGETABLES, TUBERS, PLANTAINS, … 9.5
FISH AND OTHER SEAFOOD 8.7
FRUIT AND VEGETABLE JUICES 7.0
COFFEE AND COFFEE SUBSTITUTES 6.8
SUGAR, CONFECTIONERY AND DESSERTS 6.3
WATER 3.0
FRUITS AND NUTS 2.8 %

Ghana Statistical Service (GSS)

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Table 5 : Consumer Price Index, August 2019 to December 2021

Index Month-on-month Year-on-year

Region (2018=100) inflation rate (%) inflation rate (%)
Western 130.45 2.24 9.4
Central 132.14 0.87 11.9
Greater Accra 149.86 0.88 12.9
Volta 127.64 0.82 11.2
Eastern 125.33 4.75 7.4
Ashanti 136.61 0.62 16.0
Brong Ahafo 129.99 0.61 13.0
Northern 133.12 0.25 14.8
Upper East 126.92 0.11 10.3
Upper West 133.54 1.98 18.6
NATIONAL 136.86 1.23 12.6
Figure 7: Regional inflation rates (Year-on-year) - December 2021

10.3%
18.6%

14.8%
1
9.5%

11.2%
13.0%

16.0%

7.4%

9.4%
11.9% 12.9%

Ghana Statistical Service (GSS)

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Table 6: Consumer Price Index, August 2019 to December 2021

Food and
non- Combined
alcoholic Food and non-
Region Beverages Non-food food

Index (2018=100)

Western 136.34 125.92 130.45

Central 139.32 125.89 132.14
Greater Accra 145.47 153.04 149.86
Volta 132.11 124.21 127.64
Eastern 123.90 126.63 125.33
Ashanti 144.87 130.51 136.61
Brong Ahafo 131.40 128.76 129.99
Northern 137.60 129.83 133.12
Upper East 136.59 122.34 126.92
Upper West 142.69 124.02 133.54
NATIONAL 139.11 135.12 136.86

Month-on-month inflation rate (%)

Western 1.39 2.96 2.24

Central 1.08 0.66 0.87
Greater Accra 1.77 0.28 0.88
Volta 0.63 0.97 0.82
Eastern 1.17 8.17 4.75
Ashanti 1.10 0.22 0.62
Brong Ahafo 0.53 0.68 0.61
Northern 0.14 0.33 0.25
Upper East 0.34 -0.02 0.11
Upper West 4.03 -0.36 1.98
NATIONAL 1.24 1.23 1.23

Year-on-year inflation rate (%)

Western 9.0 9.8 9.4

Central 15.3 8.7 11.9
Greater Accra 8.4 16.2 12.9
Volta 11.8 10.8 11.2
Eastern 5.7 9.0 7.4
Ashanti 19.7 13.0 16.0
Brong Ahafo 16.1 10.3 13.0
Northern 18.6 12.0 14.8
Upper East 14.8 8.1 10.3
Upper West 31.1 6.4 18.6
NATIONAL 12.8 12.5 12.6

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