The annual inflation rate in Ghana accelerated for the third straight month to 9.7% in August of 2021, from 9% in July. It is the highest inflation rate since March but still within the Bank of Ghana's target band of 8% plus or minus 2 percentage points. Main upward pressure came from prices of food (10.9% vs 9.5% in July), housing & utilities (15.2% vs 14.1%) and transportation (12.8% vs 12.1%). On a monthly basis, consumer prices went up 0.3%, the least in nine months. source: Ghana Statistical Service

Inflation Rate in Ghana averaged 15.57 percent from 1998 until 2021, 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 2021.

Inflation Rate in Ghana is expected to be 9.30 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 7.00 percent in 2022 and 6.00 percent in 2023, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
9.70 9.00 63.10 0.40 1998 - 2021 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2021-06-09 10:00 AM May 7.5% 8.5% 8.3%
2021-07-14 10:00 AM Jun 7.8% 7.5% 8%
2021-08-11 10:10 AM Jul 9% 7.8% 7.6%
2021-09-08 10:05 AM Aug 9.7% 9% 10%
2021-10-14 10:15 AM Sep 9.7% 9.3%
2021-11-11 10:30 AM Oct
2021-12-10 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 Picks Up to 5-Month High
The annual inflation rate in Ghana accelerated for the third straight month to 9.7% in August of 2021, from 9% in July. It is the highest inflation rate since March but still within the Bank of Ghana's target band of 8% plus or minus 2 percentage points. Main upward pressure came from prices of food (10.9% vs 9.5% in July), housing & utilities (15.2% vs 14.1%) and transportation (12.8% vs 12.1%). On a monthly basis, consumer prices went up 0.3%, the least in nine months.
2021-09-08
Ghana July Inflation Rate Quickens to 4-Month High
The annual inflation rate in Ghana picked up to 9% in July of 2021 from 7.8% in June but remained within the central bank’s target band of 6-10%. It was the highest inflation rate since March, as food-price growth accelerated (9.5% vs 7.3% in June). Non-food prices also contributed to the increase (8.6% vs 8.2%), mainly pushed up by costs of housing (14.1%) and transport (12.1%). On a monthly basis, consumer prices inched up 1.6%, following a 1.3% increase in the prior month.
2021-08-11
Ghana June Inflation Rate Ticks Up to 7.8%
The annual inflation rate in Ghana rose to 7.8 percent in June of 2021 from a record low of 7.5 percent in May, but below the middle of the central bank’s target range of 6-10 percent. Prices advanced faster for food (7.3 percent vs 5.3 percent in May), while inflation slowed for non-food products (8.2 percent vs 9.2 percent). On a monthly basis, consumer prices inched up 1.3 percent, after increasing 0.8 percent in the previous month.
2021-07-14
Ghana May Inflation Rate Hits Record Low
The annual inflation rate in Ghana fell to a record low of 7.5 percent in May of 2021 from 8.5 percent in April and below the middle of the central bank’s target range of 6-10%. Food inflation reached an all-time low of 5.4 percent (vs 6.5 percent in April). Also, non-food inflation softened (9.2 percent vs 10.2 percent).
2021-06-09

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.