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

The inflation rate in Ghana was recorded at 16.50 percent in September 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.


Ghana Inflation Rate

Actual Previous Highest Lowest Dates Unit Frequency
16.50 15.90 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. Content for - Ghana Inflation Rate - was last refreshed on Friday, October 24, 2014.

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.

Year-on-year, cost of housing, water, electricity, gas and other fuels recorded the highest increase (63.5 percent), followed by transport prices (27.1 percent). In contrast, education recorded the lowest increase (3.5 percent). Food prices rose 5.8 percent.

On a monthly basis, consumer prices fell 0.2 percent for the second consecutive month, mainly driven by a 3 percent decrease in cost of food and non-alcoholic beverages.

Inflation has been on an upward trend since the beginning of 2013, staying above the government’s 13 percent target for the last twelve months. Yet, a weak currency has increased import cost. The cedi depreciated more than 38 percent from January to September of 2014. However, following recent discussions with IMF for a government bailout it appreciated almost 2 percent in the first two weeks of October of 2014.   

Ghana Statistical Service | Ricardo Martins |
10/15/2014 6:10:27 PM

Recent Releases

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

Ghana Inflation Rate Rises to 4-1/2 Year High
Ghana annual inflation rate accelerated to 15.3 percent in July of 2014 from 15.0 percent in the previous month, reaching the highest level since December of 2009. Published on 2014-08-13

Calendar GMT Country Event Reference Actual Previous Consensus Forecast
2014-07-09 11:20 AM Ghana
Inflation Rate YoY
Jun 2014 15.0% 14.8% 14.75%
2014-08-13 11:30 AM Ghana
Inflation Rate YoY
Jul 2014 15.3% 15.0% 14.75%
2014-09-10 01:30 PM Ghana
Inflation Rate YoY
Aug 2014 15.9% 15.3% 15.57%
2014-10-15 11:45 AM Ghana
Inflation Rate YoY
Sep 2014 16.5% 15.9% 16.19%
2014-11-12 10:30 AM Ghana
Inflation Rate YoY
Oct 2014 16.5% 16.3%

Ghana Prices Last Previous Highest Lowest Unit
Inflation Rate 16.50 15.90 63.00 0.40 Percent [+]
Consumer Price Index CPI 130.50 130.70 131.00 9.81 Index Points [+]
Producer Prices 452.90 445.70 452.90 135.81 Index Points [+]
Food Inflation 5.80 5.10 8.90 5.00 Percent [+]
Inflation Rate Mom -0.20 -0.23 10.87 -3.34 Percent [+]