The annual inflation rate in Ghana rose to 9.4 percent in December of 2018 from 9.3 percent in the previous month, as both food and non-food prices increased at a faster pace. Inflation Rate in Ghana averaged 16.55 percent from 1998 until 2018, reaching an all time high of 63 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 8.80 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 7.90 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
2018-10-17 01:00 PM Inflation Rate YoY 9.8% 9.9% 10.1%
2018-11-14 10:30 AM Inflation Rate YoY 9.5% 9.8% 9.7%
2018-12-12 10:30 AM Inflation Rate YoY 9.3% 9.5% 9.5%
2019-01-09 03:00 PM Inflation Rate YoY 9.4% 9.3% 9%
2019-02-14 10:50 AM Inflation Rate YoY 9.4% 9.2%
2019-03-14 10:35 AM Inflation Rate YoY 9%
2019-04-11 10:30 AM Inflation Rate YoY 8.8%



Ghana Annual Inflation Rate Rises to 9.4% in December

The annual inflation rate in Ghana rose to 9.4 percent in December of 2018 from 9.3 percent in the previous month, as both food and non-food prices increased at a faster pace.

Year-on-year, cost advanced further for food and non-alcoholic beverages (8.7 percent compared to 8.6 percent in November), mainly coffee, tea and cocoa (13.5 percent compared to 12.8 percent) and fruits (11.4 percent compared to 11.0 percent). Additionally, prices went up at a faster pace for housing & utilities (3.4 percent compared to 3.1 percent); clothing & footwear (13.0 percent compared to 12.6 percent); furnishing & household equipment (11.6 percent compared to 11.4 percent); and restaurant & hotels (6.3 percent compared to 5.9 percent). 

On the other hand, prices eased for transport (13.6 percent compared to 13.7 percent); miscellaneous goods & services (10.0 percent compared to 10.3 percent); recreation & culture (13.2 percent compared to 13.3 percent); communication (5.1 percent compared to 5.4 percent); health (6.4 percent compared to 6.6 percent) and alcoholic beverages & tobacco (7.6 percent compared to 8.1 percent). Also, inflation was steady for and education (8.2 percent, the same as in November). 

On a monthly basis, consumer prices went up 1.1 percent, after a 0.7 percent gain in the prior month.


Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
1/9/2019 3:28:10 PM



Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 9.40 9.30 63.00 0.40 percent [+]
Consumer Price Index CPI 226.70 224.20 226.70 9.81 Index Points [+]
Producer Prices 599.30 606.60 610.00 135.81 Index Points [+]
Food Inflation 8.70 8.60 9.70 5.00 percent [+]
Producer Prices Change 4.40 6.50 48.56 2.00 percent [+]
Inflation Rate Mom 1.10 0.70 10.87 -3.34 percent [+]
Cpi Housing Utilities 329.90 326.90 329.90 94.76 Index Points [+]
Cpi Transportation 370.50 367.50 370.50 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 January of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
9.40 9.30 63.00 0.40 1998 - 2018 percent Monthly
2012=100




Country Last Previous
Argentina 47.10 Dec/18
Australia 1.90 Sep/18
Brazil 3.75 Dec/18
Canada 2.00 Dec/18
China 1.90 Dec/18
Euro Area 1.60 Dec/18
France 1.60 Dec/18
Germany 1.70 Dec/18
India 2.19 Dec/18
Indonesia 3.13 Dec/18
Italy 1.10 Dec/18
Japan 0.30 Dec/18
Mexico 4.83 Dec/18
Netherlands 2.00 Dec/18
Russia 4.30 Dec/18
Saudi Arabia 2.80 Nov/18
Singapore 0.30 Nov/18
South Africa 5.20 Nov/18
South Korea 1.30 Dec/18
Spain 1.20 Dec/18
Switzerland 0.70 Dec/18
Turkey 20.30 Dec/18
United Kingdom 2.10 Dec/18
United States 1.90 Dec/18


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