Ghana Inflation May 2017


Ghana: Inflation eases in May

June 14, 2017

Consumer prices in Ghana increased 0.7% in May in month-on-month terms, down from the 1.6% increase witnessed in April. May’s uptick was largely driven by higher prices for education, clothing and footwear and food and non-alcoholic beverages.

In annual terms, inflation decreased to 12.6% in May from April’s 13.0%, marking the lowest rate since December 2013. However, inflation remains above the target range of 6.0%-10.0% set by the Central Bank. Annual average inflation dipped down from 15.5% in April to 15.0% in May, the lowest reading in over two years.

FocusEconomics Consensus Forecast panelists expect inflation to average 12.3% in 2017, which is unchanged from last month’s forecast. The panel sees inflation at 10.1% in 2018.

Author:, Economist

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Ghana Inflation Chart

Ghana Inflation May 2017

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

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