GCT PRESS STATEMENT - CPI - Telecoms Chamber€¦ · Title: Microsoft Word - GCT PRESS STATEMENT -...

                                                                                                                                                                                             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   near-­‐zero   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  &  Non-­‐alcoholic  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)  

For  more  information,  please  contact:    

Derek  B.Laryea  (Mr.)  Tel:  0577605485/  Email:derek@telecomschamber.org  

EDITORS  TO  NOTE:    Telecommunications   has   been   acknowledged   as   a   major   driver   of   economic  growth   and   social   development   globally.   Research   by   Arthur   D.   Little   and  Ericsson  has  demonstrated   that  10%  mobile  penetration   leads   to   a  percentage  growth  in  GDP.        About  Ghana  Telecommunications  Chamber    Five   mobile   network   operators   in   Ghana   launched   the   Chamber   of  Telecommunications  in  2011  as  a  private  initiative  to  help  shape  policy  in  one  of  Africa’s   most   active   telecoms   markets.   A   sixth   player,   Globacom,   launched   its  services  in  Ghana  in  April  to  join  Airtel,  Expresso,  MTN,  Tigo  and  Vodafone.