Indicators used in this ranking include rent, groceries, restaurant prices, cost of living, local purchasing power, transportation, and market prices, among others.
In summarizing the cost of living in Accra, Numbeo estimated that the monthly cost of living for a family of four, excluding rent, is $2,124.5, equivalent to GH¢32,625.74.
For a single person, the estimated monthly expenses without rent are $590.4, equivalent to GH¢9,068.85. Other African countries, such as South Africa, had four of its cities ranked among the top 10 most expensive cities in Africa.
Johannesburg claimed the top spot, followed by Pretoria in 2nd place and Cape Town in 3rd. Lagos, the largest city in Africa, came in 4th place for Nigeria, with Durban in 5th place for South Africa and Casablanca in 6th place for Morocco.
Factors such as currency fluctuations, inflation, subsidy removals on essential commodities like fuel, and increased taxes contribute to the rising cost of living in many African cities. Basic necessities like food and utilities have also seen price hikes as a result, as reported by Numbeo.
Comparing the cost of living between Accra and Lagos, restaurant prices in Lagos are 9.0% lower than in Accra, while local purchasing power in Lagos is 17.4% lower than in Accra.
