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. source: Ghana Statistical Service

Inflation Rate in Ghana averaged 15.81 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 December of 2020.

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 7.40 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 7.30 percent in 2021 and 7.00 percent in 2022, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.10 10.40 63.10 0.40 1998 - 2020 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2020-08-12 11:00 AM Jul 11.4% 11.2%
2020-09-09 11:00 AM Aug 10.5% 11.4% 11.6%
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 10.1%
2021-01-08 10:15 AM Dec
2021-02-12 10:20 AM Jan
2021-03-11 10:10 AM Feb


News Stream
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 August Inflation Rate at 5-Month Low of 10.5%
Ghana's annual inflation rate eased to 10.5 percent in August of 2020 from an over 2-1/2-years high of 11.4 percent in July. It was the softest rate since March, as prices slowed for food products (11.4 percent vs 13.7 percent in July). In contrast, cost advanced faster for non-food products (9.9 percent vs 9.7 percent). On a monthly basis, consumer prices decreased 0.4 percent, after rising 0.5 percent in the preceding month.
2020-09-09
Ghana Inflation Rate at Over 2-1/2-Year High of 11.4%
Ghana's annual inflation rate ticked up to 11.4 percent in July of 2020 from 11.2 percent in the prior month. It was the highest inflation rate since December of 2017, amid persistent upward pressure from food (13.7 percent vs 13.8 percent in June) and non-food products (9.7 percent vs 9.2 percent) associated with the global outbreak and related restrictive measures. On a monthly basis, consumer prices increased 0.5 percent, following a 1 percent rise in the previous month.
2020-08-12

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.