Ghana Inflation Rate 1998-2015 | Data | Chart | Calendar | Forecast

The inflation rate in Ghana was recorded at 16.40 percent in January of 2015. Inflation Rate in Ghana averaged 17.12 percent from 1998 until 2015, 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.

      Forecast    
Ghana Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
16.40 17.00 63.00 0.40 1998 - 2015 percent Monthly
2012=100
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. Content for - Ghana Inflation Rate - was last refreshed on Wednesday, March 4, 2015.


Ghana Inflation Rate Slows for the First Time in 17 Months


Ghana’s annual inflation rate eased to 16.4 percent in January of 2015, from 17 percent in the previous month as the government reduced petroleum prices due to the drop in crude oil cost in the world market.

In spite of the decline, inflation rate remains well above the central bank’s target of 13 percent plus or minus two percentage points. A year earlier, inflation was recorded at 13.8 percent. 

In January, food prices advanced an annual 6.9 percent, following a 6.8 percent rise in December. Prices for mineral water, soft drinks and fruit registered the highest increase (+ 16.7 percent), followed by coffee, tea and cocoa (+16 percent) and sugar, jam, honey and chocolate (+15.6 percent). Vegetables recorded the smallest increase (+0.6 percent).

Year-on-year, cost of housing, water, electricity and gas advanced 32.3 percent, down from a 35.2 percent in the preceding month. Transport prices went up 31.1 percent and prices of culture and recreation surged 20.4 percent. Other positive contribution came from education (+20.2 percent); clothing and footwear (+18.9 percent); furnishing and household equipment (+17.7 percent) and hotels and restaurants (+13.9 percent).

On a monthly basis, consumer prices advanced 3.4 percent, up from 1 percent in December, mostly due to a 5.7 rise in food prices.  

Carolina Cunha | carolina.cunha@tradingeconomics.com
2/16/2015 5:28:43 PM


Recent Releases

Ghana Inflation Rate at 5-Year High
Ghana consumer prices increased an annual 17 percent in December, the same as in November. The inflation rate has been rising for the last 15 months, remaining within double digit since January of 2013. Published on 2015-01-14

Ghana Inflation Rate at 17% in November
Ghana’s annual inflation rate rose marginally to 17 percent in November of 2014 from 16.9 percent in October, staying above the central bank’s 11 percent to 15 percent target range for the fifth consecutive month. Published on 2014-12-10


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-12-10 10:50 AM
Inflation Rate YoY  Nov
17% 16.9% 17.31%
2015-01-14 11:00 AM
Inflation Rate YoY  Dec
17% 17% 17.22%
2015-02-11 10:30 AM
Inflation Rate YoY  Jan
16.4% 17% 17.21%
2015-03-11 10:00 AM
Inflation Rate YoY  Feb
16.4% 17.32%
2015-04-09 11:30 AM
Inflation Rate YoY  Mar
17.45%
2015-05-14 11:30 AM
Inflation Rate YoY  Apr
17.65%


Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 16.40 17.00 63.00 0.40 percent [+]
Consumer Price Index CPI 141.10 136.40 141.10 9.81 Index Points [+]
Producer Prices 450.50 456.60 465.20 135.81 Index Points [+]
Food Inflation 6.90 6.80 8.90 5.00 percent [+]
Inflation Rate Mom 1.00 0.90 10.87 -3.34 percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 1.70 Nov/14 2.30 23.90 -1.30 percent [+]
Brazil 7.14 Jan/15 6.41 6821.31 1.65 percent [+]
Canada 1.00 Jan/15 1.50 21.60 -17.80 percent [+]
China 0.80 Jan/15 1.50 28.40 -2.20 percent [+]
Euro Area -0.30 Feb/15 -0.60 5.00 -0.70 percent [+]
France -0.40 Jan/15 0.10 18.80 -0.70 percent [+]
Germany 0.10 Feb/15 -0.40 11.54 -7.62 percent [+]
India 5.11 Jan/15 5.00 11.16 4.38 percent [+]
Indonesia 6.29 Feb/15 6.96 82.40 -1.17 percent [+]
Italy -0.19 Feb/15 -0.60 25.64 -0.60 percent [+]
Japan 2.40 Jan/15 2.40 25.00 -2.52 percent [+]
Mexico 3.07 Jan/15 4.08 179.73 2.91 percent [+]
Netherlands 0.00 Jan/15 0.70 11.19 -1.30 percent [+]
Russia 15.00 Jan/15 11.40 2333.30 3.60 percent [+]
South Korea 0.50 Feb/15 0.80 32.50 0.20 percent [+]
Spain -1.10 Feb/15 -1.30 28.43 -1.37 percent [+]
Switzerland -0.50 Jan/15 -0.30 11.92 -1.37 percent [+]
Turkey 7.55 Feb/15 7.24 138.71 -4.01 percent [+]
United Kingdom 0.30 Jan/15 0.50 8.50 0.30 percent [+]
United States -0.10 Jan/15 0.80 23.70 -15.80 percent [+]