Ghana is ranked sixth among African countries with the highest Cost of Living and Rent Index.
Numbeo ranked Ghana among 15 other African countries.
According to the rankings, Ghana scored 21.0 points.
It also ranked sixth in the Grocery Index, with a score of 33.9.
Cameroon has the continent’s highest cost of living and rent index (27.5).
It was followed by Nigeria (27.1), which finished second.
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.
Numbeo explained that 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 |