Ghana’s annual inflation rate accelerated for the eleventh consecutive month to 23.6% in April of 2022, from 19.4% in March. That was the highest inflation rate since January of 2004. Food-price growth quickened to 26.6% from 22.4% in March. Also, non-food inflation climbed to 21.3% from 17% in the prior month, led by higher prices of transport (33.5%), household equipment and maintenance (28.5%); and housing and utilities (25%). On a monthly basis, consumer prices rose by 5.1%. source: Ghana Statistical Service

Inflation Rate in Ghana averaged 15.55 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 May of 2022.

Inflation Rate in Ghana is expected to be 25.00 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.

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Ghana Inflation Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-04-13 10:00 AM Mar 19.4% 15.7% 17%
2022-05-11 10:00 AM Apr 23.6% 19.4% 20%
2022-06-15 10:00 AM May 23.6%


Related Last Previous Unit Reference
Inflation Rate 23.60 19.40 percent Apr 2022
Consumer Price Index CPI 156.50 148.80 points Apr 2022
Inflation Rate Mom 5.10 4.00 percent Apr 2022
CPI Transportation 145.00 142.90 points Dec 2021
CPI Housing Utilities 165.90 164.20 points Dec 2021

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.
Actual Previous Highest Lowest Dates Unit Frequency
23.60 19.40 63.10 0.40 1998 - 2022 percent Monthly
2018=100

News Stream
Ghana April Inflation Rate at Over 18-Year High
Ghana’s annual inflation rate accelerated for the eleventh consecutive month to 23.6% in April of 2022, from 19.4% in March. That was the highest inflation rate since January of 2004. Food-price growth quickened to an all-time high of 26.6% from 22.4% in March. Also, non-food inflation climbed to 21.3% from 17% in the prior month, led by higher prices of transport (33.5%), household equipment and maintenance (28.5%); and housing and utilities (25%). On a monthly basis, consumer prices rose by 5.1%.
2022-05-11
Ghana Inflation Rate Steepest since 2009
Ghana’s annual inflation rate accelerated for the tenth consecutive month to 19.4% in March of 2022, from 15.7% in February. That was the highest rate since August of 2009, breaching the Bank of Ghana's target band of 6% to 10% for the seventh month. Food-price growth quickened to 22.4% from 17.4% in February, driven by cooking oil, water and cereal products. Non-food inflation also climbed to 17% from 14.5%, on account of prices of transportation (27.6%), of which fuels; and housing & utilities (21.4%). On a monthly basis, consumer prices surged by 4%, the most since January of 2016. The strong acceleration in consumer prices comes after the Bank of Ghana lifted its key rate by a massive 250 bps to 17% on March 21st, saying already high inflation was being worsened by the Russia-Ukraine war. The government also announced a flurry of spending cuts to tackle inflation, reduce the deficit and restore a depreciating local currency.
2022-04-13
Ghana Inflation Rate Quickens for 9th Month
Ghana’s annual inflation rate accelerated for the ninth consecutive month to 15.7% in February of 2022, from 13.9% in January. That was the highest rate since October of 2016, exceeding the Bank of Ghana's target band of 6% to 10% for a sixth straight month. Food-price growth quickened to 17.4% from 13.7% in January and non-food inflation accelerated to 14.5% from 14.1% in the previous month. On a monthly basis, consumer prices surged 2.4%, after increasing 2.1% in the prior month.
2022-03-09