FOR IMMEDIATE RELEASE TELECOMS INFLATION LOWEST AMONGST SECTORS IN GHANA Inflation in the Communications industry in Ghana, at 0.6 per cent, is the lowest among all the key sectors in Ghana. The nearzero growth in cost of telecommunications services in Ghana has produced a stabilization effect on Ghana’s global CPI growth month on month. The Figure 1.1 below tracks CPI changes in all key sectors/commodities constituting Ghana’s CPI pot. In Jan to July 2012, Telecoms recorded a stable inflation, yielding 0.7% each month, with notably Transportation being the highest commodity group with 19%. Electricity, which constitutes 50% of the operating expenditure of Telecom companies and other Utilities, recorded an 8% average inflation. In August and September 2012, Telecoms inflation dropped even further to 0.2%, with the highest commodity group still being Transportation with 19.4%. The telecoms sector, which has created over 1.5 million jobs, has had a positive influence on general inflation. Fig 1.1 Source: Ghana Statistical Service (2012) Misc. Goods & Services Transport Furnishing, Household equip Clothing & Footwear Recreation & Culture Alcoholic Beverages, Tobacco Health Water, Electricity, Gas, Housing Hotels, Restaurants Food & Nonalcoholic bev. Education Communications 15.9 19.4 14.1 13.8 14.0 15.1 8.6 8.0 7.0 4.7 10.2 0.6 Ghana Consumer Price Index CPI Average Q1 Q3 (2012)