Ghana Inflation September 2021


Ghana: Inflation rises to an over one-year high in September

October 13, 2021

Consumer prices rose a seasonally-adjusted 0.64% from the previous month in September, picking up from August’s 0.27% increase. September’s result was mainly driven by rising prices for food.

Inflation came in at 10.6% in September, up from August’s 9.7% result and marking the highest rate since July 2020. Meanwhile, the trend remained stable, with annual average inflation coming in at 9.5% again for the third consecutive month.

FocusEconomics panelists see inflation averaging 8.6% in 2022, which is up 0.1 percentage points from last month’s projection, and 8.2% in 2023.


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Ghana Inflation Chart

Ghana Inflation September 2021

Note: Annual and monthly variation of consumer price index in %.
Source: Ghana Statistical Service.

Ghana Economic News

  • Ghana: Inflation hits over one-year high in October

    November 10, 2021

    Consumer prices rose a seasonally-adjusted 0.61% from the previous month in October, ticking down from September’s 0.64% increase.

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  • Ghana: PMI ticks down in October

    October 5, 2021

    The IHS Markit Purchasing Managers’ Index (PMI) came in at 51.0 in October, down from the previous month’s 52.6 which had marked the strongest reading since October 2020.

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  • Ghana: Central Bank stands pat in September

    September 27, 2021

    At its meeting on 22–24 September, the Monetary Policy Committee of the Bank of Ghana (BoG) decided to keep its policy rate at 13.50%, as expected by market analysts. The decision to leave rates unchanged was mainly due to a need to balance both the ongoing economic recovery and inflationary pressures.

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  • Ghana: GDP growth records best reading since Q1 2020 in the second quarter

    September 25, 2021

    According to data released by the Ghana Statistical Service, GDP growth accelerated to 3.9% year-on-year in the second quarter, gaining steam from the 3.1% expansion logged in the first quarter and marking the fastest increase since Q1 2020. Q2’s improvement came despite largely unchanged Covid-19 restrictions throughout the period.

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