Ghana's annual inflation rate rose to 10.4% in December of 2020 from an eight-month low of 9.8% in the previous month, partly due to the ongoing depreciation of the cedi and disruptions in agricultural activity amidst the global pandemic. Prices continued to climb for food products (14.1% vs 11.7% in November) while slowed for non-food products (7.7% vs 8.3%). On a monthly basis, consumer prices were up 0.9%, the most since June, after increasing 0.3% in the previous month. source: Ghana Statistical Service

Inflation Rate in Ghana averaged 15.77 percent from 1998 until 2020, 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. This page provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Ghana Inflation Rate - data, historical chart, forecasts and calendar of releases - was last updated on February of 2021.

Inflation Rate in Ghana is expected to be 8.60 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 7.30 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 7.00 percent in 2022, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.40 9.80 63.10 0.40 1998 - 2020 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2020-10-14 10:15 AM Sep 10.4% 10.5% 10%
2020-11-11 10:30 AM Oct 10.1% 10.4% 10.3%
2020-12-09 10:00 AM Nov 9.8% 10.1% 10%
2021-01-13 10:10 AM Dec 10.4% 9.8% 9.5%
2021-02-10 10:00 AM Jan 10.4% 10.8%
2021-03-11 10:10 AM Feb
2021-04-15 10:30 AM Mar
2021-05-13 10:15 AM Apr
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Ghana Inflation Rate Rises to 10.4% in December
Ghana's annual inflation rate rose to 10.4% in December of 2020 from an eight-month low of 9.8% in the previous month, partly due to the ongoing depreciation of the cedi and disruptions in agricultural activity amidst the global pandemic. Prices continued to climb for food products (14.1% vs 11.7% in November) while slowed for non-food products (7.7% vs 8.3%). On a monthly basis, consumer prices were up 0.9%, the most since June, after increasing 0.3% in the previous month.
2021-01-13
Ghana November Inflation Rate Falls Further to 9.8%
Ghana's annual inflation rate eased for a fourth straight month to 9.8 percent in November of 2020 from 10.1 percent in the previous month. It was the lowest inflation rate since March, amid a slowdown in prices of food products (11.7 percent vs 12.6 percent in October). Meantime, inflation remained steady for non-food products (at 8.3 percent). On a monthly basis, consumer prices were up 0.2 percent, after increasing 0.2 percent in the previous month.
2020-12-09
Ghana October Inflation Rate Drops Further to 10.1%
Ghana's annual inflation rate eased for a third straight month to 10.1 percent in October of 2020 from 10.4 percent in the previous month. It was the lowest inflation rate since March, as prices slowed for non-food products (8.3 percent vs 9.8 percent in September), of which housing, electricity and transportation. In contrast, food inflation quickened (12.6 percent vs 11.2 percent). On a monthly basis, consumer prices went up 0.2 percent, after decreasing 0.2 percent in the previous month.
2020-11-11
Ghana Inflation Rate Slows for 2nd Month
Ghana's annual inflation rate eased for a second month to 10.4 percent in September of 2020 from 10.5 percent in the previous month. It was the softest inflation rate since March, amid a slowdown in food prices (11.2 percent vs 11.4 percent in August). On a monthly basis, consumer prices dropped 0.2 percent, following a 0.4 percent decrease in the prior month.
2020-10-14

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.