The annual inflation rate in Ghana decreased to 7.9 percent in December 2019 from 8.2 percent in the previous month, as prices slowed mostly for food (7.2 percent vs 8.4 percent in November). Conversely, cost was higher for non-food products (8.5 percent vs 8.0 percent), mainly pushed up by housing & utilities (10.5 percent vs 9.6 percent); restaurants & hotels (5.5 percent vs 3.8 percent); education (6.6 percent vs 4.4 percent) and recreation & culture (9.3 percent vs 7.7 percent). Conversely, cost went up at slower pace for transport (11 percent vs 12.3 percent); clothing & footwear (6.7 percent vs 6.8 percent); furnishings (4.7 percent vs 4.9 percent); health (6.7 percent vs 7 percent) and miscellaneous goods & services (7.4 percent vs 8.2 percent). On a monthly basis, consumer prices went up 0.3 percent, after rising 0.7 percent in the prior month.
Inflation Rate in Ghana averaged 16.04 percent from 1998 until 2019, 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. source: Ghana Statistical Service
Inflation Rate in Ghana is expected to be 7.60 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 7.80 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 8.00 percent in 2020, according to our econometric models.