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Ghana ranked as third country with highest cost of living in West Africa – Numbeo Data

A latest data from Numbeo has ranked Ghana as the third country in West Africa with the highest cost of living.

Additionally, it holds the 20th position among 24 African countries with the lowest cost of living overall.

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Numbeo’s ranking is determined by factors such as the Rent Index, Groceries Index, Restaurant Purchase Index, and Local Purchasing Power Index. Ghana’s overall Cost of Living Index stands at 26.0, contributing to its placement as the third highest in West Africa.

This ranking is attributed to various factors, including the slowdown in inflation and the depreciation of the cedi throughout 2023.

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Regarding specific indicators, Ghana’s scores are as follows:

Rent Index: 11.0.

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Cost of Living Plus Rent Index: 18.8

Groceries Index: 27.2

Restaurant Purchase Index: 22.9

Local Purchasing Power Index: 14.8

For the highest cost of living among other African countries, Cote d’Ivoire ranked first in Africa and West Africa with a Cost-of-Living Index of 44.7.

Senegal ranked second with an index of 44.0.

Ethiopia was 3rd with a score of 43.1, while Mozambique and Mauritius were 4th and 5th with scores of 43.0 and 39.8 respectively.

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