Ghana Inflation Rate  1998-2017 | Data | Chart | Calendar | Forecast

Consumer prices in Ghana increased 12.2 percent year-on-year in September of 2017, following a 12.3 percent rise in the previous month. Prices rose at a slower pace for: Transport (21.9 percent compared to 22.3 percent); housing and utilities (6.1 percent compared to 6.8 percent); clothing and footwear (16.2 percent compared to 16.6 percent); recreation and culture (18.7 percent compared to 19.5 percent); furnishings and household equipment (17.6 percent compared to 19 percent); miscellaneous goods and services (15.4 percent compared to 16.1 percent); education (9.2 percent compared to 9.4 percent); health (12.7 percent compared to 13.8 percent); restaurants and hotels (11.4 percent compared to 12.5 percent); and communication (9.5 percent compared to 9.6 percent). Meanwhile, cost of food and non-alcoholic beverages rose at a faster 8.1 percent after a 7.4 percent increase in August. On a monthly basis, consumer prices were unchanged. Inflation Rate in Ghana averaged 16.97 percent from 1998 until 2017, reaching an all time high of 63 percent in March of 2001 and a record low of 0.40 percent in May of 1999.

Ghana Inflation Rate
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Ghana Inflation Rate Rises to 12.3% in August


The inflation rate in Ghana increased to 12.3 percent in August of 2017 from 11.9 percent in July. It is the highest increase in inflation rate since March of 2016, mainly due to a base drift effect compared to the index a year ago and higher petroleum prices. In addition, the government recently introduced a 3 percent flat VAT, replacing the 17.5 percent rate, thus increasing prices of several items, mainly imported ones.

Year-on-year, prices advanced faster for the non-food group (14.7 percent compared to 14.2 percent in July), namely transport which recorded the highest inflation (22.3 percent compared to 22 percent in July); housing and utilities (6.8 percent vs 6.2 percent); clothing and footwear (16.6 percent vs 15.7 percent); miscellaneous goods and services (16.1 percent vs 14.8 percent in July); furnishings, household equipment and routine maintenance (19 percent from 18.7 percent) and recreation and culture (19.5 percent from 19.2 percent). Meanwhile, inflation was steady for health (13.8 percent) and communication (9.6 percent).

Food inflation rose to 7.4 percent from 7.2 percent. Prices went up faster for fish and sea food (14.6 percent vs 14.4 percent) but slowed for meat and meat products (9.5 percent compared to 10.1 percent)

On a monthly basis, consumer prices fell 0.2 percent asfter rising 0.7 percent in July.

Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
9/14/2017 1:25:29 PM


Recent Releases

Ghana Inflation Rate Eases To 11.9% In July
The inflation rate in Ghana declined to 11.9 percent in July of 2017 from 12.1 percent in May. The annual inflation rate fell for the third consecutive month to the lowest inflation rate since September of 2013, on the back of a stable cedi and easing non-food prices, namely transport. The country is committed to lowering inflation to 11.2 percent by the end of the year to restore restore macroeconomic stability under a three year assistance programme with the IMF.
Published on 2017-08-17

Ghana Inflation Rate At Near 4-Year Low of 12.1%
The inflation rate in Ghana decreased to 12.10 percent in June of 2017 from 12.6 percent in May. It is the lowest reading since September of 2013 as inflation slowed both for food (6.2 percent from 6.3 percent) and non-food (15.1 percent from 15.8 percent). The country expects inflation to reach 11.2 percent by the end of 2017, in order to restore macroeconomic stability under a three year assistance programme with IMF.
Published on 2017-07-14

Ghana Inflation Rate Lowest Since September 2013
Consumer prices in Ghana increased 12.6 percent year-on-year in May of 2017, easing from a 13 percent rise in April. It is the lowest inflation rate since September of 2013, as declining fuel cost led to a general slowdown in prices.
Published on 2017-06-14

Ghana Inflation Rate Rises To 13% In April
Inflation rate in Ghana inched up to 13 percent in April from three and a half year low of 12.8 percent reported in March. While cost of transportation surged 24.9 percent dues to rise in transport fares, food inflation slowed to 6.7 percent which was the lowest since November 2014.
Published on 2017-05-10



Calendar GMT Actual Previous Consensus TEForecast
2017-08-09 09:50 AM Inflation Rate YoY 11.9% 12.1% 12%
2017-09-13 10:30 AM Inflation Rate YoY 12.3% 11.9% 11.7%
2017-10-11 10:00 AM Inflation Rate YoY 12.2% 12.3% 11.9%
2017-11-15 10:30 AM Inflation Rate YoY 12.2% 11.8%
2017-12-13 10:30 AM Inflation Rate YoY 11.9%


Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 12.20 12.30 63.00 0.40 percent [+]
Consumer Price Index CPI 201.30 201.30 201.70 9.81 Index Points [+]
Producer Prices 557.80 552.40 558.80 135.81 Index Points [+]
Food Inflation 8.10 7.40 9.70 5.00 percent [+]
Producer Prices Change 6.60 2.00 48.56 2.00 percent [+]
Inflation Rate Mom 0.00 -0.20 10.87 -3.34 percent [+]


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 October of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
12.20 12.30 63.00 0.40 1998 - 2017 percent Monthly
2012=100




inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.54 Sep/17
Canada 1.60 Sep/17
China 1.60 Sep/17
Euro Area 1.50 Sep/17
France 1.00 Sep/17
Germany 1.80 Sep/17
India 3.28 Sep/17
Indonesia 3.72 Sep/17
Italy 1.10 Sep/17
Japan 0.70 Aug/17
Mexico 6.35 Sep/17
Netherlands 1.50 Sep/17
Russia 3.00 Sep/17
South Korea 2.10 Sep/17
Spain 1.80 Sep/17
Switzerland 0.70 Sep/17
Turkey 11.20 Sep/17
United Kingdom 3.00 Sep/17
United States 2.20 Sep/17