Inflation in Ghana
Ghana - Inflation
Inflation hits over one-year high in October
Consumer prices rose a seasonally-adjusted 0.61% from the previous month in October, ticking down from September’s 0.64% increase. October’s result was chiefly due to slower price growth for food.
Inflation came in at 11.0% in October, up from September’s 10.6% result and marking the highest rate since July 2020. Meanwhile, the trend remained pointed up, with annual average inflation coming in at 9.6% (September 9.5%).
FocusEconomics panelists see inflation averaging 9.2% in 2022, which is up 0.3 percentage points from last month’s projection, and 9.0% in 2023.
Ghana - Inflation Data
|Inflation Rate (CPI, annual variation in %)||17.2||17.5||12.4||9.8||8.7|
5 years of economic forecasts for more than 30 economic indicators.
Ghana Inflation Chart
Source: Ghana Statistical Services
|Exchange Rate||5.70||0.0 %||Jan 01|
|Stock Market||0.1||0.0 %||Dec 31|
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November 10, 2021
Consumer prices rose a seasonally-adjusted 0.61% from the previous month in October, ticking down from September’s 0.64% increase.
October 13, 2021
Consumer prices rose a seasonally-adjusted 0.64% from the previous month in September, picking up from August’s 0.27% increase.
October 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI) came in at 51.0 in October, down from the previous month’s 52.6 which had marked the strongest reading since October 2020.
September 27, 2021
At its meeting on 22–24 September, the Monetary Policy Committee of the Bank of Ghana (BoG) decided to keep its policy rate at 13.50%, as expected by market analysts. The decision to leave rates unchanged was mainly due to a need to balance both the ongoing economic recovery and inflationary pressures.
September 25, 2021
According to data released by the Ghana Statistical Service, GDP growth accelerated to 3.9% year-on-year in the second quarter, gaining steam from the 3.1% expansion logged in the first quarter and marking the fastest increase since Q1 2020. Q2’s improvement came despite largely unchanged Covid-19 restrictions throughout the period.