Ghana Inflation Rate

The inflation rate in Ghana was recorded at 14.50 percent in March of 2014. Inflation Rate in Ghana is reported by the Ghana Statistical Service. Inflation Rate in Ghana averaged 17.18 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. 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. 2014-04-25

Actual Previous Highest Lowest Forecast Dates Unit Frequency
14.50 14.00 63.00 0.40 14.80 | 2014/06 1998 - 2014 Percent Monthly
2012=100

TO

Ghana Inflation Rate
LIST BY COUNTRY


CALENDAR GMT Country Event Reference Actual Previous Consensus Forecast
2014-01-15 10:10 AM Ghana
Inflation Rate YoY
Dec 2013 13.5% 13.2% 13.51%
2014-02-12 10:30 AM Ghana
Inflation Rate YoY
Jan 2014 13.8% 13.5% 13.85%
2014-03-12 10:30 AM Ghana
Inflation Rate YoY
Feb 2014 14.0% 13.8% 13.8%
2014-04-09 11:30 AM Ghana
Inflation Rate YoY
Mar 2014 14.5% 14.0% 14.08%
2014-05-07 10:30 AM Ghana
Inflation Rate YoY
Apr 2014 14.5% 14.22%
2014-06-11 10:30 AM Ghana
Inflation Rate YoY
May 2014 14.89%
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Prices Last Previous Highest Lowest Forecast Unit
Consumer Price Index (CPI) 123.70 2014-03-15 122.60 123.70 9.81 126.71 2014-04-30 Index Points [+]
Inflation Rate 14.50 2014-03-31 14.00 63.00 0.40 14.80 2014-06-30 Percent [+]
Producer Prices 375.00 2014-02-15 364.60 375.00 135.81 380.97 2014-03-31 Index Points [+]
[+]


Ghana Inflation Rate Rises to 4-Year High

Ghana annual inflation rate increased even further to 14.5 percent in March of 2014. Consumer prices accelerated for the seventh consecutive month, recording the highest inflation rate since February of 2010.

The year-on-year inflation accelerated from 14.0 percent in the previous month and 10.8 percent a year earlier, mainly due to higher cost of housing, water and electricity (+43.8 percent), transport (27.3 percent), clothing and footwear (16.7 percent), health (13.4 percent), recreation and culture (13.8 percent), food and non-alcoholic beverages (8.2 percent).
 
On a month-on-month basis, the CPI increased by 0.9 percent in March of 2014, compared with 1.1 percent in the previous month, and 0.5 percent a year earlier.

Isabel Felino | isabel.felino@tradingeconomics.com
4/9/2014 4:34:59 PM

RECENT RELEASES

Ghana Inflation Rate at 14% in February
Ghanaian consumer prices kept its upward trend and rose 14 percent in February of 2014, up from 13.8 percent in January. The inflation rose for the sixth straight month, driven by higher fuel prices, mainly kerosene and transport and dairy costs. Published on 2014-03-13

Ghana Inflation Rate Up to 4-Year High
In January of 2014, Ghana’s annual inflation rate accelerated to 13.8 percent from 13.5 percent in the last month of 2014. It is the highest growth rate since February of 2010. Published on 2014-02-12


Inflation Rate | Notes
The data given on this page shows an annual change in the Consumer Price Index. The CPI measures changes in the price level of consumer goods and services purchased by households. The CPI is calculated by taking price changes for each item in the predetermined basket of goods and services and averaging them. The items weight according to their importance. Depending on the country, the highest weights are usually given to the food, energy, housing, clothing, medical care, transportation and household equipment.


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In November of 2013, Ghana’s inflation rate rose marginally to 13.2 percent, from 13.1 percent in October, driven by higher housing, water, electricity, gas, fuel and transport prices.
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