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

The inflation rate in Ghana declined to 11.9 percent in July of 2017 from 12.1 percent in May. The 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. Inflation Rate in Ghana averaged 17.01 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 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.

Year-on-year, cost went up at a slower pace for: housing and utilities (6.2 percent vs 7.1 percent in June); clothing and footwear (15.7 percent vs 16.6 percent); transport (22 percent vs 23.1 percent); miscellaneous goods and services (14.8 percent vs 15.4 percent);  furniture and household equipment (18.7 percent vs 20.6 percent); education (9.3 percent vs 11 percent); recreation and culture (19.2 percent vs 20.8 percent); communication (9.6 percent vs 11.1 percent); health (13.8 percent vs 14.3 percent) and alcoholic beverages and tobacco (11.5 percent vs 11.7 percent).

Conversely, prices advanced faster for food and non-alcoholic beverages (7.2 percent vs 6.2 percent), including meat and meat products (10.1 percent) and fish and seafood (14.4 percent); and also for hotels, cafes and restaurants (12.2 percent vs 12 percent).

On a monthly basis, consumer prices went up 0.7 percent, easing from a 0.9 percent increase in June.

Ghana Statistical Service |Luisa Carvalho | luisa.carvalho@tradingeconomics.com
8/17/2017 8:13:47 AM


Recent Releases

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

Ghana Inflation Rate Down To 12.8% In March
Consumer prices in Ghana increased 12.8 percent year-on-year in March of 2017, from a 13.2 percent rise in February. The inflation fell for the sixth consecutive month to the lowest since September of 2013, mainly due to a slowdown in cost of transport and health.
Published on 2017-04-12



Calendar GMT Actual Previous Consensus Forecast (i)
2017-06-14 09:40 AM May 12.6% 13% 12.4%
2017-07-12 10:55 AM Jun 12.1% 12.6% 12.3%
2017-08-09 09:50 AM Jul 11.9% 12.1% 12%
2017-09-14 10:30 AM Aug 11.9% 11.7%
2017-10-12 10:30 AM Sep 11.9%
2017-11-09 10:30 AM Oct 11.8%


Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 11.90 12.10 63.00 0.40 percent [+]
Consumer Price Index CPI 201.76 200.43 201.76 9.81 Index Points [+]
Producer Prices 555.40 549.70 558.80 135.81 Index Points [+]
Food Inflation 7.20 6.20 9.70 5.00 percent [+]
Producer Prices Change 3.60 3.70 48.56 2.80 percent [+]
Inflation Rate Mom 0.90 0.80 10.87 -3.34 percent [+]


Ghana Inflation Rate Notes

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 August of 2017.

Actual Previous Highest Lowest Dates Unit Frequency
11.90 12.10 63.00 0.40 1998 - 2017 percent Monthly
2012=100



inflation rate by Country

Last
Australia 1.90 Jun/17
Brazil 2.71 Jul/17
Canada 1.20 Jul/17
China 1.40 Jul/17
Euro Area 1.30 Jul/17
France 0.70 Jul/17
Germany 1.70 Jul/17
India 2.36 Jul/17
Indonesia 3.88 Jul/17
Italy 1.10 Jul/17
Japan 0.40 Jun/17
Mexico 6.44 Jul/17
Netherlands 1.30 Jul/17
Russia 3.90 Jul/17
South Korea 2.20 Jul/17
Spain 1.50 Jul/17
Switzerland 0.30 Jul/17
Turkey 9.79 Jul/17
United Kingdom 2.60 Jul/17
United States 1.70 Jul/17