Telecom Inflation Lowest Among Sectors In Ghana

Inflation in the Communication industry is 0.6 per cent, the lowest among all the key sectors in Ghana. The near-zero growth in cost of telecommunication services in Ghana has produced a stabilization effect on Ghana’s Consumer Price Index (CPI) growth month on month. The Consumer Price Index measures changes in the price level of consumer goods and services purchased by households. A statement from the Ghana Chamber of Telecommunication said between Jan and July 2012, telecoms recorded 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 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 statement said the telecom sector, which had created over 1.5 million jobs, had had a positive influence on general inflation. "Telecommunication has been acknowledged as a major driver of economic growth and social development globally."