Ghana's annual inflation rate jumped to 11.3 percent in May 2020 from 10.6 percent in the previous month, hitting the highest level since December 2017. Food prices climbed 15.1 percent, the most since comparable records began in 2013, and the non-food rate rose to a five-month high of 8.4 percent. On a monthly basis, consumer prices increased 1.7 percent, compared to a 3.2 percent advance in April.
Inflation Rate in Ghana averaged 15.91 percent from 1998 until 2020, 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 July of 2020. source: Ghana Statistical Service
Inflation Rate in Ghana is expected to be 8.00 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 7.40 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 7.30 percent in 2021 and 7.00 percent in 2022, according to our econometric models.