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. source: Ghana Statistical Service

Inflation Rate in Ghana averaged 15.62 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 July of 2021.

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 6.30 in 12 months time. In the long-term, the Ghana Inflation Rate is projected to trend around 6.00 percent in 2022 and 5.00 percent in 2023, according to our econometric models.

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Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
7.80 7.50 63.10 0.40 1998 - 2021 percent Monthly
2018=100


Calendar GMT Actual Previous Consensus TEForecast
2021-04-14 10:10 AM Mar 10.3% 10.3% 10.6%
2021-05-12 10:05 AM Apr 8.5% 10.3% 9.8%
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%
2021-08-12 11:00 AM Jul 7.8%
2021-09-09 11:00 AM Aug
2021-10-14 10:15 AM Sep
2021-11-11 10:30 AM Oct


News Stream
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 April Inflation Rate at Over 1-Year Low
Ghana's inflation rate fell to 8.5 percent in April of 2021 from 10.3 percent in the previous month. It was the lowest inflation rate since March of 2020, driven mainly by a slowdown in food prices (6.5 percent vs 10.8 percent), particularly in the greater Accra region as the Covid-19 effects begin to ease. On the other hand, non-food inflation rose slightly (10.2 percent vs 10 percent). On a monthly basis, consumer prices were up 1.5 percent, the most since May of 2020, following a 0.9 percent increase in the previous month.
2021-05-12
Ghana March Inflation Rate Steady at 10.3%
Ghana's annual inflation rate was at 10.3 percent in March of 2021, unchanged from the previous month. Prices continued to climb for non-food products (10 percent vs 8.8 percent in February) while food inflation slowed slightly (10.8 percent vs 12.3 percent). On a monthly basis, consumer prices were up 0.9 percent, after increasing 0.8 percent in the previous month
2021-04-14

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.