Ghana Inflation Rate

The annual inflation rate in Ghana rose to 9.2 percent in February 2019 from 9.0 percent in the previous month. Prices went up faster for both food (8.1% vs 8.0% in January) and non-food products (9.7% vs 9.5%). Inflation Rate in Ghana averaged 16.34 percent from 1998 until 2019, 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.

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.

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Calendar	GMT		Actual	Previous	TEForecast
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%
2019-02-13	01:00 PM	Inflation Rate YoY	9%	9.4%	9.2%
2019-03-13	12:35 PM	Inflation Rate YoY	9.2%	9%	9.2%
2019-04-11	10:30 AM	Inflation Rate YoY		9.2%	8.8%
2019-05-09	12:10 PM	Inflation Rate YoY			8.7%
2019-06-13	10:30 AM	Inflation Rate YoY			8.6%

Ghana Inflation Rate Edges Higher to 9.2% in February

The annual inflation rate in Ghana rose to 9.2 percent in February 2019 from 9.0 percent in the previous month. Prices went up faster for both food (8.1% vs 8.0% in January) and non-food products (9.7% vs 9.5%).

Year-on-year, prices advanced faster for food & non-alcoholic beverages (8.1 percent vs 8.0 percent in January), with cost remaining elevated for mineral water, soft drinks, fruit and vegetable juices (9.9 percent vs 9.3 percent); coffee, tea and cocoa (11.6 percent vs 12.4 percent); fruits (10 percent, the same pace as in January) and meat and meat products (9.1 percent vs 9.8 percent). Meantime, inflation quickened for non-food products (9.7 percent vs 9.5 percent), of which: clothing & footwear (13.3 percent vs 12.8 percent); miscellaneous goods & services (10 percent vs 9.6 percent); hotels & restaurants (8.3 percent vs 6.7 percent); furnishing & household equipment (11.6 percent vs 11.2 percent); recreation & culture (13.2 percent vs 12.7 percent); communications (5.3 percent vs 5.2 percent) and alcoholic beverages & tobacco (8.8 percent vs 8.3 percent).

On the other hand, inflation was steady for health (at 5.3 percent) and slowed for housing & utilities (2.6 percent vs 2.9 percent); transport (12.8 percent vs 13.4 percent) and education (8.0 percent vs 8.1 percent).

On a monthly basis, consumer prices were up 1 percent, the same pace as in preceding month.

Ghana Statistical Service | Luisa Carvalho | luisa.carvalho@tradingeconomics.com
3/19/2019 10:48:49 AM

News

Ghana Inflation Rate at 6-Year Low of 9% in January
The annual inflation rate in Ghana eased to 9 percent in January of 2019 from 9.4 percent in the prior month. It is the lowest inflation rate since December 2012, as prices slowed for both food (8.0% vs 8.6% in December) and non-food products (9.5% vs 9.8%).
Published on 2019-02-13

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.
Published on 2019-01-09

Ghana Annual Inflation Rate Lowest Since 2012
The annual inflation rate in Ghana fell to 9.3 percent in November 2018 from 9.5 percent in the previous month. It remained the lowest inflation since December 2012, as cost of food and non-food slowed.
Published on 2018-12-12

Ghana Annual Inflation Rate Slows to 9.8% in September
The annual inflation rate in Ghana fell to 9.8 percent in September of 2018 from 9.9 percent in the previous month, mainly due to a slowdown in non-food prices.
Published on 2018-10-17

Ghana Prices	Last	Previous	Highest	Lowest	Unit
Inflation Rate	9.20	9.00	63.10	0.40	percent	[+]
Consumer Price Index CPI	231.30	229.00	231.30	9.81	Index Points	[+]
Producer Prices	600.80	599.30	610.00	135.81	Index Points	[+]
Food Inflation	8.10	8.00	9.70	5.00	percent	[+]
Producer Prices Change	3.40	4.40	48.56	2.00	percent	[+]
Inflation Rate Mom	1.00	1.00	10.87	-3.34	percent	[+]
Cpi Housing Utilities	331.70	330.70	331.70	94.76	Index Points	[+]
Cpi Transportation	374.00	372.90	374.00	98.06	Index Points	[+]

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 March of 2019.

	Actual	Previous	Highest	Lowest	Dates	Unit	Frequency
	9.20	9.00	63.10	0.40	1998 - 2019	percent	Monthly	2012=100

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Country	Last		Previous	Range
Argentina	50.70	Feb/19	48.9	20263 : -7	%
Australia	1.80	Dec/18	1.9	23.9 : -1.3	%
Brazil	3.89	Feb/19	3.78	6821 : 1.65	%
Canada	1.40	Jan/19	2	21.6 : -17.8	%
China	1.50	Feb/19	1.7	28.4 : -2.2	%
Euro Area	1.50	Feb/19	1.4	5 : -0.6	%
France	1.30	Feb/19	1.2	18.8 : -0.7	%
Germany	1.50	Feb/19	1.4	11.54 : -7.62	%
India	2.57	Feb/19	1.97	12.17 : 1.54	%
Indonesia	2.57	Feb/19	2.82	82.4 : -1.17	%
Italy	1.00	Feb/19	0.9	25.64 : -0.6	%
Japan	0.20	Jan/19	0.3	24.9 : -2.5	%
Mexico	3.94	Feb/19	4.37	180 : 2.13	%
Netherlands	2.60	Feb/19	2.2	11.19 : -1.3	%
Russia	5.20	Feb/19	5	2333 : 2.2	%
Saudi Arabia	-2.20	Feb/19	-1.9	11.1 : -2.2	%
Singapore	0.40	Jan/19	0.5	34 : -3.1	%
South Africa	4.10	Feb/19	4	20.7 : 0.2	%
South Korea	0.50	Feb/19	0.8	32.5 : 0.2	%
Spain	1.10	Feb/19	1	28.43 : -1.37	%
Switzerland	0.60	Feb/19	0.6	11.92 : -1.4	%
Turkey	19.67	Feb/19	20.35	139 : -4.01	%
United Kingdom	1.90	Feb/19	1.8	8.5 : -0.1	%
United States	1.50	Feb/19	1.6	23.7 : -15.8	%