Ghana Inflation January 2019


Ghana: Inflation moderates to over five-year low in January

February 13, 2019

Consumer prices rose 1.0% in monthly terms in January, up slightly from December’s 1.1% increase. All 12 components of the index posted month-on-month increases, led by higher prices for food and non-alcoholic beverages, health, and clothing and footwear.

Meanwhile, inflation fell from 9.4% in December to 9.0% in January, marking the lowest reading in over five years. As a result, it edged closer down to the midpoint of the Central Bank’s medium-term target band of 8.0% plus or minus 2.0 percentage points. Lastly, annual average inflation edged down to a near five-year low of 9.7% in January from 9.8% in the previous month.

FocusEconomics Consensus Forecast panelists expect inflation to average 9.7% in 2019, which is up 0.1 percentage points from last month’s forecast, and 9.5% in 2020.

Author:, Research Team Manager

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Ghana Inflation Chart

Ghana Inflation January 2019

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

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