Out of 16 African countries with the highest Rent and Cost of Living Index, Ghana is ranked sixth.
The nation received a score of 21.0 on Numbeo.
With a score of 33.9, it was ranked sixth in the Grocery Index as well.
On the continent with the highest Rent Index (27.5) and Cost of Living, Cameroon came in first.
Nigeria (27.1), in second place, came next.
South Africa finished fifth, while Mauritius (24.1) and Zimbabwe (24.1) tied for third place.
With a score of 102.8, South Africa ranked #1 for local purchasing power.
With a score of 64.4, Botswana came in second place after it.
Fourth and fifth place went to Libya (42.0) and Mauritius (43.2).
Ghana was ranked 12th out of 16 African nations.
A nation’s purchasing power is a key determinant of its prospects and state of the economy.
A low number usually indicates an economic crisis, whereas a high one indicates the stability of the economy.
Additionally, increased consumer spending and the ensuing growth of enterprises and industries are indicators of a high purchasing power.
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