Ghana has been ranked as the sixth of sixteen African countries with the highest cost of living and rent index, according to global country data from Numbeo.
The ranking places Ghana behind Cameroon, which has the highest cost of living and rent index on the continent (27.5), followed by Nigeria (27.1), and Zimbabwe and Mauritius, which jointly occupy the third position (24.1), while South Africa ranks fifth.
The data also includes local purchasing power rankings, with South Africa leading at 102.8, followed by Botswana (64.4), Mauritius (43.2), and Libya (42.0). Ghana ranks 12th out of 16 countries in local purchasing power, reflecting the financial challenges faced by many citizens in meeting basic needs.
With lower purchasing power and rising living costs, Ghanaians are expected to face increased financial pressures, which could reduce disposable income, impact the standard of living, and potentially hinder economic growth.
