Ghana has been ranked 6th among 16 African nations in terms of the highest Cost of Living and Rent Index, according to data from Numbeo. The country scored 21.0 points in this category. Additionally, Ghana secured 6th place in the Groceries Index with a score of 33.9 points.
Cameroon topped the list with the highest Cost of Living and Rent Index, scoring 27.5, followed by Nigeria with 27.1 in 2nd place. Zimbabwe and Mauritius shared 3rd place with a score of 24.1, while South Africa took 5th position.
In the Local Purchasing Power Index, South Africa led the continent with a score of 102.8, followed by Botswana in 2nd place with 64.4. Mauritius (43.2) and Libya (42.0) claimed 3rd and 4th positions, respectively. Ghana ranked 12th out of the 16 countries assessed in this category.
Local purchasing power is a critical economic indicator, reflecting the stability of a nation’s economy. High purchasing power typically suggests increased consumer spending, which can lead to the growth of industries and businesses, whereas low purchasing power may indicate economic difficulties.
| 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 |
SOURCE: Joybusiness
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