Ghana ranked 6th in Africa's cost of living index

Sep 16, 2024 - 10:27

Accra, Ghana - A recent report by Numbeo has ranked Ghana 6th among 16 African countries with the highest Cost of Living and Rent Index, scoring 21.0 points.

The country also placed 6th in the Groceries Index with a score of 33.9, indicating a relatively high cost of living.

Cameroon topped the list with a score of 27.5, followed closely by Nigeria with 27.1. Zimbabwe and Mauritius tied for third place with 24.1 points each.

In terms of local purchasing power, Ghana ranked 12th out of 16 countries, with South Africa leading the pack with a score of 102.8.

The report highlights the importance of purchasing power as an indicator of a country's economic health, with higher scores signifying stability and potential for growth.

Ghana's ranking raises concerns about the country's economic prospects and the need for policies to improve purchasing power and reduce the cost of living.

Find the full ranking below.

COUNTRY	COST OF LIVING PLUS RENT INDEX	GROCERIES INDEX	PURCHASING POWER
Cameroon	27.5	34.6	10.5
Nigeria	27.0	37.5	11.1
Zimbabwe	24.1	35.5	26.1
Mauritius	24.1	40.7	43.2
South Africa	23.5	29.7	102.8
Ghana	21.0	33.9	18.4
Kenya	19.8	31.0	34.2