Ghana Inflation August 2018


Ghana: Inflation increases but remains within target in August

September 12, 2018

Inflation accelerated to 9.9% in August, from 9.6% in July. The uptick was driven by stronger food-price inflation, in particular by higher prices for cocoa, fruits and meat products. Non-food inflation also edged up in August, albeit the uptick was only marginal.

As a result, inflation remained within the Central Bank’s medium-term inflation tolerance band of 8.0% plus or minus 2.0 percentage points. Meanwhile, annual average inflation ticked down from 10.8% in July to 10.6% in August, marking an over four-year low.

On a month-on-month basis, consumer prices remained unchanged from the previous month in August, in contrast to the 0.4% increase recorded in July.

Ghana Inflaton Forecast

FocusEconomics Consensus Forecast panelists expect inflation to average 10.1% in 2018, which is up 0.1 percentage points from last month’s forecast, and 9.3% in 2019.

Author:, Research Team Manager

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Ghana Inflation Chart

Ghana Inflation August 2018

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

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