Ghana Inflation

Ghana

Ghana: Inflation eases from July's multi-year high

September 14, 2015

In August, consumer prices dropped 0.78% over the previous month, which contrasted the 2.32% rise tallied in July. August’s decrease marked the lowest reading since October 2012 and was driven by lower prices for food, housing and electricity.

Inflation eased from 17.9% in July to 17.3% in August. July’s figure had marked a multi-year high. As a result, inflation continues well above the Central Bank’s target of 8.0%. However, annual average inflation inched up from July’s 16.8% to 16.9% in August, the highest level since March 2010.

FocusEconomics Consensus Forecast panelists expect inflation to end 2015 at 14.4%, which is up 0.1 percentage points from last month’s forecast. The panel sees inflation ending 2016 at 11.2%.


Author:, Senior Economist

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Ghana Inflation Chart


Ghana Inflation August 2015

Note: Month-on-month and year-on-year changes of consumer price index in %.
Source: Ghana Statistical Service (GSS)


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