Inflation in Ghana

Ghana Inflation | Economic News & Forecasts

Ghana - Inflation

Inflation comes in at highest level since December 2003 in June

Consumer prices rose a seasonally-adjusted 3.02% from the previous month in June, moderating from the 4.03% increase logged in May. June's result marked the weakest reading since February. The moderation was broad-based, with reduced price pressures recorded for food and beverages, transport, and clothing and footwear. Moreover, prices for housing and utilities grew at a more subdued pace. That said, the monthly inflation reading remained extremely elevated by historical standards.

Inflation increased to 29.8% in June, following May’s 27.6%. June's reading represented the highest inflation rate since December 2003. In June, inflation for imported items exceeded domestic inflation for the third month running, reflecting current global inflationary pressures. Meanwhile, annual average inflation rose to 16.4% in June (May: 14.6%).

FocusEconomics Consensus Forecast panelists expect inflation to average 19.7%, which is up 1.7 percentage points from last month’s forecast. In 2023, they see inflation averaging 14.1%.

Ghana - Inflation Data

2015   2016   2017   2018   2019  
Inflation Rate (CPI, annual variation in %)17.2  17.5  12.4  9.8  8.7  

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Ghana Inflation Chart

Ghana Inflation
Note: Inflation, annual average variation of consumer price index (CPI) in %.
Source: Ghana Statistical Services

Ghana Facts

Value Change Date
Exchange Rate5.700.0 %Jan 01
Stock Market0.10.0 %Dec 31

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