Ghana Inflation Rate

The inflation rate in Ghana was recorded at 15 percent in June of 2014. Inflation Rate in Ghana averaged 17.14 Percent from 1998 until 2014, reaching an all time high of 63 Percent in March of 2001 and a record low of 0.40 Percent in May of 1999. Inflation Rate in Ghana is reported by the Ghana Statistical Service.


Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
15.00 14.80 63.00 0.40 1998 - 2014 Percent Monthly
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. This page provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Ghana Inflation Rate Continues to Rise

The Ghanaian annual inflation rate accelerated for the tenth consecutive month to 15 percent in June of 2014 from 14.8 percent in May, standing well above the government’s 9.5 percent plus or minus 2 percent target range.

Consumer prices accelerated to a new four-year high in June, recording its biggest rate since December of 2009.

The highest upward pressure came from cost of housing, water, electricity, gas and other fuels which increased 53.6 percent year-on-year. Transport cost rose 24.6 percent.

Food and non-alcoholic beverages cost rose 7.9 percent year-on-year from an 8.0 percent increase recorded in May of 2014. In particular, prices increased for mineral waters, soft drinks and fruit (21.7 percent in June of 2014), coffee, tea and cocoa (14.2 percent), milk, cheese and eggs (12.8 percent), food products n.e.c (12.6 percent), sugar, jam, honey, chocolate (12.3 percent), oils and fats (11.6 percent), meat and meat products (10.5 percent), cereals and cereal products (9.4 percent).

On a monthly basis, consumer prices increased 1.6 percent in June of 2014, from 0.9 percent in the previous month.

Joana Taborda |
7/9/2014 5:58:24 PM

Recent Releases

Ghana Inflation Rate Up to 14.8%
Ghana annual inflation rate accelerated slightly for the ninth straight month to 14.8 percent in May of 2014 from 14.7 percent in the previous month, driven by higher cost of housing, water, electricity, gas and transport. Published on 2014-06-11

Ghana Inflation Rate Rises Further in April
Ghana’s annual inflation rate accelerated for the eight straight month to 14.7 percent in April of 2014, from 14.5 in the previous month, as the cedi depreciation affected prices of most imported items. Published on 2014-05-14

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-04-09 11:30 AM Ghana
Inflation Rate YoY
Mar 2014 14.5% 14.0% 14.08%
2014-05-14 11:30 AM Ghana
Inflation Rate YoY
Apr 2014 14.7% 14.5% 14.22%
2014-06-11 11:30 AM Ghana
Inflation Rate YoY
May 2014 14.8% 14.7% 14.89%
2014-07-09 11:20 AM Ghana
Inflation Rate YoY
Jun 2014 15.0% 14.8% 14.75%
2014-08-13 10:30 AM Ghana
Inflation Rate YoY
Jul 2014 15.0% 14.76%

Prices Last Previous Highest Lowest Unit
Inflation Rate 15.00 14.80 63.00 0.40 Percent [+]
Consumer Price Index (CPI) 129.00 126.90 129.00 9.81 Index Points [+]
Producer Prices 401.80 397.30 401.80 135.81 Index Points [+]
Food Inflation 7.90 8.00 8.90 6.60 Percent [+]

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