Ghana's annual inflation rate eased to 10.5 percent in August of 2020 from an over 2-1/2-years high of 11.4 percent in July. It was the softest rate since March, as prices slowed for food products (11.4 percent vs 13.7 percent in July). In contrast, cost advanced faster for non-food products (9.9 percent vs 9.7 percent). On a monthly basis, consumer prices decreased 0.4 percent, after rising 0.5 percent in the preceding month.

Inflation Rate in Ghana averaged 15.85 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 September of 2020. source: Ghana Statistical Service

Inflation Rate in Ghana is expected to be 10.00 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 7.40 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 7.30 percent in 2021 and 7.00 percent in 2022, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
10.50 11.40 63.10 0.40 1998 - 2020 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2020-06-10 10:20 AM May 11.3% 10.6% 9.7%
2020-07-15 10:00 AM Jun 11.2% 11.3% 10.7%
2020-08-12 11:00 AM Jul 11.4% 11.2%
2020-09-09 11:00 AM Aug 10.5% 11.4% 11.6%
2020-10-16 10:35 AM Sep 10.5% 10%
2020-11-13 09:50 AM Oct
2020-12-11 10:00 AM Nov
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Ghana August Inflation Rate at 5-Month Low of 10.5%
Ghana's annual inflation rate eased to 10.5 percent in August of 2020 from an over 2-1/2-years high of 11.4 percent in July. It was the softest rate since March, as prices slowed for food products (11.4 percent vs 13.7 percent in July). In contrast, cost advanced faster for non-food products (9.9 percent vs 9.7 percent). On a monthly basis, consumer prices decreased 0.4 percent, after rising 0.5 percent in the preceding month.
2020-09-09
Ghana Inflation Rate at Over 2-1/2-Year High of 11.4%
Ghana's annual inflation rate ticked up to 11.4 percent in July of 2020 from 11.2 percent in the prior month. It was the highest inflation rate since December of 2017, amid persistent upward pressure from food (13.7 percent vs 13.8 percent in June) and non-food products (9.7 percent vs 9.2 percent) associated with the global outbreak and related restrictive measures. On a monthly basis, consumer prices increased 0.5 percent, following a 1 percent rise in the previous month.
2020-08-12
Ghana Inflation Rate Ticks Down to 11.2% in June
Ghana's annual inflation rate edged down to 11.2 percent in June of 2020, little-changed from 11.3 percent in the previous month, amid a slowdown in prices of food (13.8 percent vs 15.1 percent in May). In contrast, non-food prices advanced faster (9.2 percent vs 8.4 percent), mostly due to housing & utilities (21.3 percent vs 15.1 percent). On a monthly basis, consumer prices rose 1 percent, decelerating from a 1.7 percent increase in the prior month.
2020-07-15
Ghana Inflation Rate Hits 2-1/2-Year High
Ghana's annual inflation rate jumped to 11.3 percent in May 2020 from 10.6 percent in the previous month, hitting the highest level since December 2017. Food prices climbed 15.1 percent, the most since comparable records began in 2013, and the non-food rate rose to a five-month high of 8.4 percent. On a monthly basis, consumer prices increased 1.7 percent, compared to a 3.2 percent advance in April.
2020-06-10

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.