Ghana Inflation July 2020


Ghana: Inflation falls to lowest level since March in July

August 12, 2020

Consumer prices rose a seasonally-adjusted 0.50% in July over the previous month, which was below the 1.00% rise recorded in June. July's result marked the softest rise in prices since February. The print reflected falling prices for insurance and financial services as well as soft price increases for other categories offsetting a strong increase in transport costs.

Inflation rose to 11.4% in July, up from June’s 11.2%. July's result represented the strongest inflation rate since December 2017. Accordingly, the trend pointed up, with annual average inflation coming in at 8.9% in July (June: 8.8%).

FocusEconomics Consensus Forecast panelists expect inflation to average 9.8% in 2020, which is up 0.9 percentage points from last month’s forecast, and 8.8% in 2021.


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Ghana Inflation Chart

Ghana Inflation July 20 20

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

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