Inflation in Ghana
Ghana - Inflation
Inflation edges up in February
Consumer prices rose 1.0% in monthly terms in February, unchanged from January’s reading. All 12 components of the index posted month-on-month increases, led by higher prices for hotels, cafes and restaurants, and clothing and footwear.
Meanwhile, inflation rose from an over five-year low of 9.0% in January to 9.2% in February. Nevertheless, inflation remained within the Central Bank’s medium-term target band of 8.0% plus or minus 2.0 percentage points. Lastly, annual average inflation eased to 9.6% in February from 9.7% in January, marking a five-year low.
Ghana Inflation Forecast
FocusEconomics Consensus Forecast panelists expect inflation to average 9.7% in 2019, which is up 0.1 percentage points from last month’s forecast, and 9.5% in 2020.
Ghana - Inflation Data
| 2013 | 2014 | 2015 | 2016 | 2017 | |
|---|---|---|---|---|---|
| Inflation Rate (CPI, annual variation in %) | 8.3 | 15.5 | 17.2 | 17.5 | 12.4 |
Ghana Inflation Chart
Source: Ghana Statistical Services
Ghana Facts
| Value | Change | Date | |
|---|---|---|---|
| Exchange Rate | 5.64 | 0.0 % | Mar 11 |
| Stock Market | 0.1 | 0.0 % | Mar 11 |
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Economic News
Ghana: Cedi continues to plummet following policy rate cut
March 18, 2019
The Ghanaian cedi plunged after the Bank of Ghana (BOG) unexpectedly slashed its key policy rate by 100 basis points on 28 January to a five-year low of 16.00% and signaled that further policy easing may be underway.
Ghana: Inflation edges up in February
March 14, 2019
Consumer prices rose 1.0% in monthly terms in February, unchanged from January’s reading.
Ghana: PMI ticks down in February
March 5, 2019
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) ticked down from 51.6 points in January to 51.3 February.
Ghana: Inflation moderates to over five-year low in January
February 13, 2019
Consumer prices rose 1.0% in monthly terms in January, up slightly from December’s 1.1% increase.
Ghana: PMI slips in January
February 5, 2019
The Stanbic IBTC Bank Ghana Purchasing Managers’ Index (PMI) fell from a six-month high of 52.3 points in December to 51.6 in January.
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