The annual inflation rate in Ghana fell to 9.5 percent in October 2018 from 9.8 percent in the previous month. It was the lowest inflation since December 2012. Inflation Rate in Ghana averaged 16.61 percent from 1998 until 2018, reaching an all time high of 63 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 9.10 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 8.30 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.

Ghana Inflation Rate
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Calendar GMT Actual Previous Consensus TEForecast
2018-08-15 10:30 AM Inflation Rate YoY 9.6% 10% 10.2%
2018-09-12 10:40 AM Inflation Rate YoY 9.9% 9.6% 9.4%
2018-10-17 01:00 PM Inflation Rate YoY 9.8% 9.9% 10.1%
2018-11-14 10:30 AM Inflation Rate YoY 9.5% 9.8% 9.7%
2018-12-12 10:30 AM Inflation Rate YoY 9.5% 9.5%
2019-01-09 10:50 AM Inflation Rate YoY 9.10%
2019-02-14 10:50 AM Inflation Rate YoY



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.

Year-on-year, prices eased for housing & utilities (3.0 percent compared to 3.3 percent in August); transport (14.4 percent compared to 15.1 percent); clothing & footwear (14.3 percent compared to 15.2 percent); miscellaneous goods & services (11.5 percent compared to 11.9 percent); furnishing & household equipment (12.4 percent compared to 12.6 percent); education (7.3 percent compared to 8.3 percent); communication (6.7 percent compared to 7.3 percent) and health (7.1 percent compared to 7.3 percent). 

On the other hand, cost of food and non-alcoholic beverages rose at a faster pace (8.7 percent compared to 7.9 percent), namely coffee, tea & cocoa (13.1 percent), fruits (11.3 percent) and meat & meat products (10.2 percent). Additonally, prices increased further for alcoholic beverages & tobacco (8.0 percent compared to 7.9 percent) and inflation was steady for restaurant & hotels (5.8 percent, the same as in August) and recreation & culture (13.9 percent, the same as in August).

On a monthly basis, consumer prices were unchanged.


Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
10/17/2018 1:41:04 PM


Recent Releases

Ghana Annual Inflation Rate Rises to 9.9% in August
The annual inflation rate in Ghana increased to 9.9 percent in August of 2018 from 9.6 percent in July, as both food and non-food inflation rose.
Published on 2018-09-12

Ghana Inflation Rate Slows to 9.6% in July
Annual inflation rate in Ghana eased to 9.6 percent in July of 2018 from 10 percent in the previous month. It was the lowest inflation rate since April, due to a slowdown in non-food prices.
Published on 2018-08-20

Ghana Inflation Rate Picks Up to 10%
The inflation rate in Ghana edged up to 10 percent in June of 2018 from 9.8 percent in May. The inflation accelerated for the second straight month after reaching 9.6 percent in April, the lowest since December of 2012. Transportation was the only category showing a higher inflation rate.
Published on 2018-07-11

Ghana Inflation Rate Rises to 9.8% in May
Inflation rate in Ghana rose to 9.8 percent in May of 2018 from 9.6 percent in April, which was the smallest rate since December 2012, as prices advanced faster mainly for food and fuel. Still, the May figure was the second lowest since January 2013.
Published on 2018-06-14



Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 9.50 9.80 63.00 0.40 percent [+]
Consumer Price Index CPI 222.60 221.00 222.60 9.81 Index Points [+]
Producer Prices 610.00 600.40 610.00 135.81 Index Points [+]
Food Inflation 8.90 8.70 9.70 5.00 percent [+]
Producer Prices Change 7.20 5.80 48.56 2.00 percent [+]
Inflation Rate Mom 0.70 0.00 10.87 -3.34 percent [+]
Cpi Housing Utilities 324.40 322.00 326.23 94.76 Index Points [+]
Cpi Transportation 364.40 361.40 364.40 98.06 Index Points [+]


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. 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 December of 2018.

Actual Previous Highest Lowest Dates Unit Frequency
9.50 9.80 63.00 0.40 1998 - 2018 percent Monthly
2012=100




Country Last Previous
Argentina 45.50 Oct/18
Australia 1.90 Sep/18
Brazil 4.05 Nov/18
Canada 2.40 Oct/18
China 2.20 Nov/18
Euro Area 2.00 Nov/18
France 1.90 Nov/18
Germany 2.30 Nov/18
India 3.31 Oct/18
Indonesia 3.23 Nov/18
Italy 1.70 Nov/18
Japan 1.40 Oct/18
Mexico 4.72 Nov/18
Netherlands 2.00 Nov/18
Russia 3.80 Nov/18
Saudi Arabia 2.40 Oct/18
Singapore 0.70 Oct/18
South Africa 5.10 Oct/18
South Korea 2.00 Nov/18
Spain 1.70 Nov/18
Switzerland 0.90 Nov/18
Turkey 21.62 Nov/18
United Kingdom 2.40 Oct/18
United States 2.50 Oct/18


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