Ghana is ranked 12^th in Africa with the highest cost of living among 23 countries, Numbeo has disclosed.

The country scored 30.6 in the cost of living index.

For the rent index, the country scored 12.1 and 33.3 for groceries.

Ethiopia was ranked 1^st on the African continent with a score of 43.2 and was followed by Botswana (39.5) in 2^nd and Mozambique (38.9) in 3^rd.

From 4^th to 10^th were Ivory Coast (38.8), Somalia (38.7), Cameroon (36.2), Mauritius (35.6), Zimbabwe (34.7), Rwanda (34.6), Zambia (33.8) and Tanzania (31.8).

The report stated that food, housing, transportation, and healthcare not only raise the standard of living but also boost the overall economy.

However, the rising cost of food, transportation and housing is a concern for many. It usually increases the cost of living and inflation.

Inflation declined to 18.4% in May 2025, from 21.2% in April 2025, the fifth sharp decline.

The Ghana Statistical Service attributed the sharp drop to a reduction in transportation fares and a decline in non-food inflation. 

Food inflation, though still high, dropped to 22.8% in May 2025 from 25.0% in April 2025, while non-food inflation saw a sharper decline to 14.4% from 17.9%. Food alone accounted for nearly two-thirds of the overall inflation figure, contributing 9.7 percentage points to the 18.4% headline rate.

Non-food components, particularly transport, housing and utilities, also moderated.

Transport inflation dropped from 14.9% in April 2025 to just 3.1% in May 2025, representing the sharpest year-on-year decline (11.8 percentage points) across all Consumer Price Index divisions.