Inflation in Ghana
Ghana - Inflation
Inflation rises to an over one-year high in September
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.
Ghana - Inflation Data
| 2015 | 2016 | 2017 | 2018 | 2019 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 17.2 | 17.5 | 12.4 | 9.8 | 8.7 |
Ghana Inflation Chart
Source: Ghana Statistical Services
Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 5.70 | 0.0 % | Jan 01 |
| Stock Market | 0.1 | 0.0 % | Dec 31 |
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Economic News
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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.
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Ghana: PMI hits highest reading since October 2020 in September
October 5, 2021
The IHS Markit Purchasing Managers’ Index (PMI) came in at 52.6 in September, up from August's 48.9.
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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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Ghana: Inflation hits five month high in August
September 15, 2021
Consumer prices rose a seasonally-adjusted 0.27% from the previous month in August, waning markedly from July’s 1.63% increase.
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