Audio By Carbonatix
Ghana has been ranked 6th in Africa among 16 African countries with the highest Cost of Living and Rent Index.
According to Numbeo, the country scored 21.0 points.
It also placed 6th in the Groceries Index with a score of 33.9.
Cameroon placed 1st on the continent with the highest Cost of Living and Rent Index (27.5).
It was followed by Nigeria (27.1) in 2nd place.
Zimbabwe (24.1) and Mauritius (24.1) placed a joint 3rd, whereas South Africa placed 5th.
For local purchasing power, South Africa placed 1st with a score of 102.8.
It was followed by Botswana in the 2nd position with a score of 64.4.
In 3rd and 4th positions were Mauritius (43.2) and Libya (42.0).
Ghana placed 12th among the 16th African countries.
A country's purchasing power is a crucial indicator of its economic health and prospects.
It denotes the stability of the economy, while a low one typically signals an economic crisis.
A high purchasing power also indicates higher consumer spending and consequently expansion in industries and businesses.
| 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 |
Latest Stories
-
Ashie Moore admits defeat in war against vote buying
3 hours -
Bribery scandal rocks NDC Ayawaso East primary as IMANI President demands total annulment
3 hours -
Pollster Mussa Dankwah reacts as Baba Jamal defies projections in NDC Ayawaso East Primary
3 hours -
Government to roll out Free Primary Healthcare in the first week of April
4 hours -
The price of inaction: Why we must invest now to end FGM in West, Central Africa
5 hours -
Mahama recalls High Commissioner to Nigeria Baba Jamal over vote-buying allegations
6 hours -
VALCO not for sale; government pursuing strategic partnership to revive smelter – GIADEC CEO
6 hours -
GIADEC boss warns of job losses as government turns to partnerships to save VALCO
6 hours -
Baba Jamal expresses gratitude, calls for unity after securing Ayawaso East NDC slot
7 hours -
Ayawaso East Primary: TV “gifts” not meant to influence votes – Baba Jamal
8 hours -
Ayawaso East: I’ve been giving gifts this week – Baba Jamal admits giving out TV sets
9 hours -
Baba Jamal wins NDC Ayawaso East Primaries
9 hours -
NDC Ayawaso East primary: Baba Jamal expresses confidence after voting
9 hours -
Mahama approves operating licence for UMaT mining initiative
9 hours -
NDC condemns vote-buying in Ayawaso East primaries, launches investigation
10 hours