The annual inflation rate in Ghana climbed to 10.6 percent in April of 2020 from 7.8 percent in the previous month. It was the highest inflation rate since February of 2018, as prices rose faster for food & non-alcoholic beverages (14.4 percent vs 8.4 percent in March), namely vegetables (37 percent) and fruits & nuts (20.5 percent), mostly in areas where the government ordered a lockdown to stem the coronavirus outbreak. Meantime, inflation edged higher also for non-food products (7.7 percent vs 7.4 percent). On a monthly basis, consumer prices were up 3.8 percent, after increasing 0.8 percent in the previous month.
Inflation Rate in Ghana averaged 15.92 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 May of 2020. source: Ghana Statistical Service
Inflation Rate in Ghana is expected to be 8.00 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 7.60 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 8.00 percent in 2021 and 8.20 percent in 2022, according to our econometric models.