The annual inflation rate in Ghana decreased to 7.9 percent in December 2019 from 8.2 percent in the previous month, as prices slowed mostly for food (7.2 percent vs 8.4 percent in November). Conversely, cost was higher for non-food products (8.5 percent vs 8.0 percent), mainly pushed up by housing & utilities (10.5 percent vs 9.6 percent); restaurants & hotels (5.5 percent vs 3.8 percent); education (6.6 percent vs 4.4 percent) and recreation & culture (9.3 percent vs 7.7 percent). Conversely, cost went up at slower pace for transport (11 percent vs 12.3 percent); clothing & footwear (6.7 percent vs 6.8 percent); furnishings (4.7 percent vs 4.9 percent); health (6.7 percent vs 7 percent) and miscellaneous goods & services (7.4 percent vs 8.2 percent). On a monthly basis, consumer prices went up 0.3 percent, after rising 0.7 percent in the prior month. Inflation Rate in Ghana averaged 16.04 percent from 1998 until 2019, reaching an all time high of 63.10 percent in March of 2001 and a record low of 0.40 percent in May of 1999. source: Ghana Statistical Service

Inflation Rate in Ghana is expected to be 7.60 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Inflation Rate in Ghana to stand at 7.80 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 8.00 percent in 2020, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.90 8.20 63.10 0.40 1998 - 2019 percent Monthly
2018=100



Calendar GMT Actual Previous Consensus TEForecast
2019-10-16 10:35 AM Sep 7.6% 7.8% 7.6%
2019-11-13 09:50 AM Oct 7.7% 7.6% 9.0%
2019-12-11 09:40 AM Nov 8.2% 7.7% 7.6%
2020-01-08 10:15 AM Dec 7.9% 8.2% 8.3%
2020-02-18 10:00 AM Jan 7.9% 8.0%


News Stream
2019-12-11
Ghana Inflation Rate at 4-Month High of 8.2%
The annual inflation rate in Ghana rose to 8.2 percent in November 2019 from 7.7 percent in the previous month. It was the highest inflation rate since July, as prices climbed for food (8.4 percent vs 7 percent) while slowed for non-food products (8 percent vs 8.2 percent). Meantime, the weakness of the cedi is adding to price pressures.

2019-11-13
Ghana October Inflation Rate Ticks Up to 7.7%
The annual inflation rate in Ghana increased to 7.7 percent in October 2019 from 7.6 percent in the previous month. Prices advanced faster for non-food products, in particular transport and alcoholic beverages, tobacco & narcotics; while food cost slowed. On a monthly basis, consumer prices rose 0.4 percent, following a 0.1 percent decrease in the preceding month.

2019-10-16
Ghana Inflation Rate at Over 6-Year Low of 7.6%
The annual inflation rate in Ghana eased to 7.6 percent in September 2019, its lowest level since August 2013, from 7.8 percent in the previous month. Prices continued to slow for non-food products while rose further for food. On a monthly basis, consumer prices went down 0.1 percent.

2019-09-18
Ghana Inflation Rate Lowest since 2013
The annual inflation rate in Ghana fell to 7.8 percent in August 2019, the lowest level since September 2013, from 9.4 percent in the previous month, and below the mid-point of Bank of Ghana's target range of 6-10 percent. Prices slowed for non-food products while picked up for food.

2019-08-14
Ghana Inflation Rate Edges Up to 9.4% in July
The annual inflation rate in Ghana rose to 9.4 percent in July of 2019 from 9.1 percent in the previous month, driven by prices of both food and non-food products.

2019-07-10
Ghana Inflation Rate at 5-Month Low of 9.1%
The annual inflation rate in Ghana fell to 9.1 percent in June 2019 from 9.4 percent in the previous month. It was the lowest inflation rate since January, as prices rose slightly less for both food and non-food products.


Ghana Inflation Rate
In Ghana, the most important components in the Consumer Price Index (CPI) are Food and Non Alcoholic Beverages (43.6 percent of total weight); Housing, Water, Electricity, Gas and Other Utilities (9.5 percent) and Clothing and Footwear (8.9 percent). Transport account for 7.2 percent of total index, Miscellaneous Goods and Services for 7 percent, Hotels, Cafés and Restaurants for 6 percent and Furnishing and Household Equipment for 4.6 percent. Education represents 3.8 percent of total weight, Recreation and Culture another 2.7 percent and Communication 2.6 percent. Health accounts for the remaining 2.4 percent and Alcoholic Beverages, Tobacco and Narcotics 1.6 percent.

Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 7.90 8.20 63.10 0.40 percent [+]
Consumer Price Index CPI 110.00 109.70 242.00 9.81 points [+]
Producer Prices 666.80 664.50 666.80 135.81 points [+]
Food Inflation 7.20 8.40 9.70 5.00 percent [+]
Producer Prices Change 9.90 8.90 48.56 2.00 percent [+]
Inflation Rate Mom 0.30 0.70 10.87 -3.34 percent [+]
Cpi Housing Utilities 114.46 112.63 351.40 94.76 points [+]
Cpi Transportation 117.64 116.95 383.60 98.06 points [+]