Ghana Inflation Rate 1998-2014 | Data | Chart | Calendar | Forecast

The inflation rate in Ghana was recorded at 16.90 percent in October of 2014. Inflation Rate in Ghana averaged 17.12 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.

   
  Forecast  

Ghana Inflation Rate


Actual Previous Highest Lowest Dates Unit Frequency
16.90 16.50 63.00 0.40 1998 - 2014 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 Tuesday, November 25, 2014.


Ghana Inflation Rate Continues to Rise


Ghanaian annual inflation rate increased for the fourteenth consecutive month to 16.9 percent in October of 2014 from 16.5 percent in the previous month.

Upward pressures came mainly from housing, water, electricity gas and other fuels (+36 percent) and transport (+30.6 percent). Year-on-year, food inflation rose to 6.5 percent from 5.8 percent in September.

In the last four monhts, the inflation rate has been above the central bank's and on November 12th, the Bank of Ghana raised the benchmark interest rate by 200 bps to 21 percent. At its September meeting, policymakers revised the inflation target to 13 percent with a 2 percent tolerance range. 

Ghana Statistical Service | Carolina Cunha | carolina.cunha@tradingeconomics.com
11/12/2014 1:26:12 PM


Recent Releases

Ghana Inflation Rate Up To Nearly 5-Year High
Ghanaian annual inflation rate accelerated for the thirteenth consecutive month to 16.5 percent in September of 2014 from 15.9 percent in the previous month. It is the highest rate since November of 2009, driven by a jump in housing, water, electricity, gas and other fuels cost. Published on 2014-10-15

Ghana Inflation Rate Accelerates Further
Ghanaian annual inflation rate continued its upward trend and rose to 15.9 percent in August of 2014 from 15.3 percent in the previous month, driven by higher transport, housing, water electricity, gas and other fuels cost. Published on 2014-09-10


Calendar GMT Event Actual Previous Consensus Forecast (i)
2014-09-10 01:30 PM
Inflation Rate YoY  Aug 2014
15.9% 15.3% 15.57%
2014-10-15 11:45 AM
Inflation Rate YoY  Sep 2014
16.5% 15.9% 16.19%
2014-11-12 12:00 PM
Inflation Rate YoY  Oct 2014
16.9% 16.5% 16.7%
2014-12-10 10:30 AM
Inflation Rate YoY  Nov 2014
16.9% 17.31%
2015-01-14 10:30 AM
Inflation Rate YoY  Dec 2014
17.62%


Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 16.90 16.50 63.00 0.40 percent [+]
Consumer Price Index CPI 133.90 130.50 133.90 9.81 Index Points [+]
Producer Prices 458.30 452.90 458.30 135.81 Index Points [+]
Food Inflation 6.50 5.80 8.90 5.00 percent [+]
Inflation Rate Mom 2.70 -0.20 10.87 -3.34 percent [+]


Inflation Rate Reference Previous Highest Lowest Unit
Australia 2.30 Aug/14 3.00 23.90 -1.30 percent [+]
Brazil 6.59 Oct/14 6.75 6821.31 1.65 percent [+]
Canada 2.40 Oct/14 2.00 21.60 -17.80 percent [+]
China 1.60 Oct/14 1.60 28.40 -2.20 percent [+]
Euro Area 0.40 Oct/14 0.30 5.00 -0.70 percent [+]
France 0.50 Oct/14 0.30 18.80 -0.70 percent [+]
Germany 0.80 Oct/14 0.80 11.54 -7.62 percent [+]
India 5.52 Oct/14 6.46 11.16 5.52 percent [+]
Indonesia 4.83 Oct/14 4.53 82.40 -1.17 percent [+]
Italy 0.10 Oct/14 -0.20 25.64 -2.44 percent [+]
Japan 3.20 Sep/14 3.30 25.00 -2.52 percent [+]
Mexico 4.30 Oct/14 4.22 179.73 2.91 percent [+]
Netherlands 1.10 Oct/14 0.90 11.19 -1.30 percent [+]
Russia 8.30 Oct/14 8.00 2333.30 3.60 percent [+]
South Korea 1.20 Oct/14 1.10 32.50 0.20 percent [+]
Spain -0.10 Oct/14 -0.20 28.43 -1.37 percent [+]
Switzerland 0.00 Oct/14 -0.10 11.92 -1.37 percent [+]
Turkey 8.96 Oct/14 8.86 138.71 -4.01 percent [+]
United Kingdom 1.30 Oct/14 1.20 8.50 0.50 percent [+]
United States 1.70 Oct/14 1.70 23.70 -15.80 percent [+]