Despite the sustained growth in the Ghanaian economy since 2011, the increase in inflation to 11.9% in September 2013 as compared to 9.4% in September 2012 could likely affect the purchasing power of households and access to basic food commodities. Indeed, a strong increase in utility tariffs has pushed Ghana’s consumer price inflation to its highest (+13.5% y/y in December 2013) since March 2010. In a number of countries of the region seasonally adjusted prices of staples increased significantly between Q3 and Q4 2013. These include a 13% rise for maize in Ghana. Strong fuel price spikes are also reported (+28% for petrol and +31% for Diesel y/y in December 2013).
The cumulative impact of staple food price changes on the cost of the basic food basket from October to December 2013 was moderate.