Ghana Inflation


Ghana: Inflation reaches highest level in nearly six years

July 15, 2015

In June, consumer prices increased 1.80% over the previous month, which was up from the 1.02% rise tallied in May. May’s figure had marked a five-month low. June’s increase was driven by higher prices for food.

Inflation increased from 16.9% in May to 17.1% in June, thus reaching the highest rate since October 2009. As a result, inflation continues well above the Central Bank’s target of 8.0%. In line with the increase in annual figures, annual average inflation inched up from May’s 16.4% to 16.6% in June, the highest level since April 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 June 2015

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

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