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.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.60 7.80 63.10 0.40 1998 - 2020 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2020-02-12 10:20 AM Jan 7.8% 7.9% 8.0%
2020-03-11 10:10 AM Feb 7.8% 7.8% 8.0%
2020-04-15 10:30 AM Mar 7.8% 7.8% 7.6%
2020-05-13 10:15 AM Apr 10.6% 7.8% 7.7%
2020-06-12 10:20 AM May 10.6%
2020-07-10 10:10 AM Jun 8%
2020-08-14 10:20 AM Jul
2020-09-18 10:00 AM Aug


News Stream
Ghana Inflation Rate at Over 2-Year High of 10.6%
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.
2020-05-13
Ghana Inflation Rate Steady at 7.8% in March
The annual inflation rate in Ghana came in at 7.8 percent in March of 2020, the lowest since last October, unchanged from the previous month. Prices slowed for non-food products (7.4 percent vs 7.7 percent in February) while food inflation picked up (8.4 percent vs 7.9 percent). On a monthly basis, consumer prices inched up 0.8 percent, after increasing 0.4 percent in the preceding month.
2020-04-15
Ghana February Inflation Rate Steady at 7.8%
The annual inflation rate in Ghana came in at 7.8 percent in February of 2020, unchanged from January's 3-month low. Prices slowed for non-food products (7.7 percent vs 7.9 percent in January) while food cost continued to advance (7.9 percent vs 7.8 percent). On a monthly basis, consumer prices went up 0.4 percent, down from a 1.4 percent increase in the preceding month.
2020-03-11
Ghana Inflation Rate Drops to 7.8% in January
The annual inflation rate in Ghana edged down to 7.8 percent in January 2020 from 7.9 percent in December, amid continued stability of the cedi. Prices slowed primarily for non-food products (7.9 percent vs 8.5 percent), namely alcoholic beverages & tobacco (11.1 percent vs 13.5 percent); housing & utilities (7.6 percent vs 10.5 percent); transport (10.5 percent vs 11 percent) and recreation & culture (9 percent vs 9.3 percent). Meanwhile, cost rose faster for food & non-alcoholic beverages (7.8 percent vs 7.2 percent); restaurants & hotels (7.5 percent vs 5.5 percent); clothing & footwear (7.2 percent vs 6.7 percent) and education (6.8 percent vs 6.6 percent). On a monthly basis, consumer prices inched up 1.4 percent, the most since the rebasing in August 2019, compared to a 0.3 percent increase in the previous month.
2020-02-12

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.