Ghana’s annual inflation rate accelerated for the 15th straight month to 33.9% in August of 2022, from 31.7% in July, but below market forecasts of 34.3%. It was the highest reading since August of 2001, even after Ghana's central bank delivered a record 300bps rate hike during an emergency meeting in August. Prices continued to soar for both food (34.4% vs 32.3% in July), namely oils & fats and non-food items (33.6% vs 31.3%), of which transport and housing & utilities, with prices of imported goods rising more than domestic ones for the fifth month on the back of a sliding currency. On a monthly basis, consumer prices rose by 1.9%, the least in eight months, after a 3.1% rise in the prior month. source: Ghana Statistical Service
Inflation Rate in Ghana averaged 15.76 percent from 1998 until 2022, 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 2022.
Inflation Rate in Ghana is expected to be 35.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Ghana Inflation Rate is projected to trend around 10.00 percent in 2023 and 7.00 percent in 2024, according to our econometric models.