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

Consumer prices in Ghana increased 11.6 percent year-on-year in October of 2017, easing from a 12.2 percent rise in the previous month. It is the lowest rate since August of 2013, mainly due to a slowdown in transport and health cost. The country is following a credit program with the International Monetary Fund that aims to lower the inflation to 8 percent +/- 2 percentage points and restore the fiscal balance in 2018. 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 Lowest Since 2013


Consumer prices in Ghana increased 11.6 percent year-on-year in October of 2017, easing from a 12.2 percent rise in the previous month. It is the lowest rate since August of 2013, mainly due to a slowdown in transport (18.5 percent compared to 21.9 percent in September) and health (4.8 percent compared to 12.7 percent). The country is following a credit program with the International Monetary Fund that targets to shrink the inflation to 8 percent +/- 2 percentage points and restore the fiscal balance in 2018.

Year-on-year, prices advanced at a slower pace for the non-food group (13.2 percent compared to the 14.1 percent in September), namely transport (18.5 percent compared to 21.9 percent in September); recreation and culture (16.8 percent compared to 18.7 percent); furnishings and household equipment (14.4 percent compared to 17.6 percent); miscellaneous goods and services (14.5 percent compared to 15.4 percent) and health (4.8 percent compared to 12.7 percent). On the other hand, prices rose faster for clothing and footwear (17.1 percent compared to 16.2 percent); housing and utilities (6.9 percent compared to 6.1 percent); restaurants and hotels (11.9 percent compared to 11.4 percent); and communication (10 percent compared to 9.5 percent) and education (9.3 percent compared to 9.2 percent).

Food inflation rose to 8.2 percent from 8.1 percent. Prices went up faster for fish and sea food (16.1 percent compared to 14.6 percent) and cereals and cereals products (7.5 percent compared to 6.8 percent).

On a monthly basis, consumer prices increased 0.9 percent after a flat reading in September.

Ghana Statistical Service | Stefanie Moya | stefanie.moya@tradingeconomics.com
11/8/2017 6:16:32 PM



Calendar GMT Actual Previous Consensus TEForecast
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%
2017-11-08 03:00 PM Inflation Rate YoY 11.6% 12.2% 11.8%
2017-12-13 10:30 AM Inflation Rate YoY 11.6% 11.9%


Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 11.60 12.20 63.00 0.40 percent [+]
Consumer Price Index CPI 203.20 201.30 203.20 9.81 Index Points [+]
Producer Prices 567.70 557.80 567.70 135.81 Index Points [+]
Food Inflation 8.20 8.10 9.70 5.00 percent [+]
Inflation Rate Mom 0.90 0.00 10.87 -3.34 percent [+]
Producer Prices Change 7.60 6.60 48.56 2.00 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 November of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
11.60 12.20 63.00 0.40 1998 - 2017 percent Monthly
2012=100




inflation rate by Country
Country Last
Australia 1.80 Sep/17
Brazil 2.70 Oct/17
Canada 1.40 Oct/17
China 1.90 Oct/17
Euro Area 1.40 Oct/17
France 1.10 Oct/17
Germany 1.60 Oct/17
India 3.58 Oct/17
Indonesia 3.58 Oct/17
Italy 1.00 Oct/17
Japan 0.70 Sep/17
Mexico 6.37 Oct/17
Netherlands 1.30 Oct/17
Russia 2.70 Oct/17
South Korea 1.80 Oct/17
Spain 1.60 Oct/17
Switzerland 0.70 Oct/17
Turkey 11.90 Oct/17
United Kingdom 3.00 Oct/17
United States 2.00 Oct/17