Inflation in Ghana
Ghana - Inflation
Inflation drops to near eight-year low in May
Consumer prices rose a seasonally-adjusted 0.78% from the previous month in May, slowing down from April’s 1.54% increase. May’s result largely reflected slower price growth for housing and utilities and for transport.
Inflation came in at 7.5% in May, down from April’s 8.5% and marking the lowest level since August 2013. Consequently, the trend pointed down, with annual average inflation coming in at 10.0% in May (April: 10.3%).
FocusEconomics panelists see inflation averaging 8.8% in 2021 which is up 0.2 percentage points from the previous month’s forecast, and 8.3% in 2022.
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: GDP growth eases in Q1
June 17, 2021
The economy lost some steam in the first quarter amid a second wave of Covid-19 infections and the reimposition of restrictions, with GDP growth slowing to 3.1% in annual terms from 3.3% in Q4 2020.
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Ghana: Inflation drops to near eight-year low in May
June 9, 2021
Consumer prices rose a seasonally-adjusted 0.78% from the previous month in May, slowing down from April’s 1.54% increase.
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Ghana: PMI drops in May; business conditions still improve
June 3, 2021
The IHS Markit Ghana Purchasing Managers’ Index (PMI) dropped to a four-month low of 51.5 in May from April’s 52.4.
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Ghana: Central Bank cuts rates in May, surprising market analysts
May 31, 2021
At its meeting on 19–21 May, the Monetary Policy Committee of the Bank of Ghana surprised market analysts by lowering its policy rate by 100 basis points to 13.50%, having held the rate steady for six consecutive meetings.
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Ghana: Inflation drops to lowest level in over a year in April
May 12, 2021
Consumer prices rose a seasonally-adjusted 1.51% from the previous month in April, quickening from the 0.89% increase logged in March.
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