The annual inflation rate in Ghana rose to 9.5 percent in April 2019 from 9.3 percent in the prior month. It is the highest inflation rate since last October, as prices advanced faster for non-food products (10.4 percent vs 9.7 percent in March) while food cost slowed (7.3 percent vs 8.4 percent). On a monthly basis, consumer prices went up 1.1 percent compared to 1.2 percent in the prior month. Inflation Rate in Ghana averaged 16.29 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.

Inflation Rate in Ghana is expected to be 8.50 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 7.70 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 7.00 percent in 2020, according to our econometric models.

Ghana Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-13 01:00 PM Inflation Rate YoY 9% 9.4% 9.2%
2019-03-13 12:35 PM Inflation Rate YoY 9.2% 9% 9.2%
2019-04-10 10:40 AM Inflation Rate YoY 9.3% 9.2% 9.4%
2019-05-15 10:10 AM Inflation Rate YoY 9.5% 9.3% 9.0%
2019-06-13 10:30 AM Inflation Rate YoY 9.5% 8.6%
2019-07-11 10:45 AM Inflation Rate YoY 8.5%
2019-08-15 10:30 AM Inflation Rate YoY 8.4%



Ghana Inflation Rate Rises Further to 9.5% in April

The annual inflation rate in Ghana rose to 9.5 percent in April 2019 from 9.3 percent in the prior month. It is the highest inflation rate since last October, as prices advanced faster for non-food products (10.4 percent vs 9.7 percent in March) while food cost slowed (7.3 percent vs 8.4 percent).

Year-on-year, prices advanced faster for non-food products (10.4 percent vs 9.7 percent in March), of which housing & utilities (6 percent vs 2.1 percent); clothing & footwear (14.3 percent vs 13.3 percent); furnishing, household equipment and routine maintenance (12.8 percent vs 12.2 percent); miscellaneous goods & services (10 percent vs 9.4 percent); hotels, cafes & restaurants (8.1 percent vs 7.5 percent); alcoholic beverages & tobacco (8.7 percent vs 7 percent); health (5.9 percent vs 5 percent) and communications (6.7 percent vs 5.8 percent).

Meanwhile, inflation slowed for transport (13.2 percent vs 13.7 percent) and education (7.8 percent vs 8.4 percent) while it remained steady for recreation & culture (at 14.1 percent).

At the same time, cost increased at a softer pace for food & non-alcoholic beverages (7.3 percent vs 8.4 percent), namely mineral water, soft drinks, fruit and vegetable juices (9.5 percent vs 11.1 percent) and meat and meat products (8.3 percent vs 9.1 percent). On the other hand, coffee, tea and cocoa (13.7 percent vs 13.0 percent) and fruits (10.4 percent vs 10.2 percent) were more expensive.

On a monthly basis, consumer prices went up 1.1 percent compared to 1.2 percent in the prior month.


Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
5/16/2019 1:30:29 PM



Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 9.50 9.30 63.10 0.40 percent [+]
Consumer Price Index CPI 236.50 234.00 236.50 9.81 Index Points [+]
Producer Prices 618.10 612.90 618.10 135.81 Index Points [+]
Food Inflation 7.30 8.40 9.70 5.00 percent [+]
Inflation Rate Mom 1.20 1.00 10.87 -3.34 percent [+]
Producer Prices Change 6.70 5.40 48.56 2.00 percent [+]
Cpi Housing Utilities 336.90 332.90 336.90 94.76 Index Points [+]
Cpi Transportation 382.20 380.40 382.20 98.06 Index Points [+]


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. This page provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Inflation Rate - actual data, historical chart and calendar of releases - was last updated on May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
9.50 9.30 63.10 0.40 1998 - 2019 percent Monthly
2012=100




Country Last Previous
Argentina 55.80 Apr/19
Australia 1.30 Mar/19
Brazil 4.94 Apr/19
Canada 2.00 Apr/19
China 2.50 Apr/19
Euro Area 1.70 Apr/19
France 1.30 Apr/19
Germany 2.00 Apr/19
India 2.92 Apr/19
Indonesia 2.83 Apr/19
Italy 1.10 Apr/19
Japan 0.50 Mar/19
Mexico 4.41 Apr/19
Netherlands 2.90 Apr/19
Russia 5.20 Apr/19
Saudi Arabia -2.10 Mar/19
Singapore 0.60 Mar/19
South Africa 4.50 Mar/19
South Korea 0.60 Apr/19
Spain 1.50 Apr/19
Switzerland 0.70 Apr/19
Turkey 19.50 Apr/19
United Kingdom 1.90 Mar/19
United States 2.00 Apr/19


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