Key information about Ghana Consumer Price Index CPI growth

• Ghana Consumer Price Index (CPI) growth was measured at 23.5 % YoY in Jan 2025, compared with a rate of 23.8 % in the previous month.
• Ghana Consumer Price Index growth data is updated monthly, available from Mar 1964 to Jan 2025, with an averaged number of 17.7 % YoY.
• The data reached an all-time high of 174.1 % YoY in Jun 1983 and a record low of -12.1 % YoY in Jul 1967.

CEIC extends history for monthly Consumer Price Index Growth. Ghana Statistical Service provides Consumer Price Index with base 2021=100. Consumer Price Index Growth prior to January 2004 is sourced from the International Monetary Fund.

The annual average consumer price index in Ghana was forecast to continuously increase between 2024 and 2029 by in total 321.9 points (+51.68 percent). After the fifteenth consecutive increasing year, the index is estimated to reach 944.84 points and therefore a new peak in 2029. Notably, the annual average consumer price index was continuously increasing over the past years.As defined by the International Monetary Fund, this indicator measures inflation on the basis of the average consumer price index. This index measure expresses a country's average level of prices based on a typical basket of consumer goods and services during a certain year. Typically a reference year exists for which a value of 100 had been assigned.Find more statistics on other topics about Ghana with key insights such as the budget balance in relation to the gross domestic product, the ratio of government expenditure to the gross domestic product, and ratio of the national debt to the gross domestic product.

The Consumer Price Index (CPI) in Ghana reached an average of 226.4 points in June 2024, with the Eastern region recording the highest index (262.3 points) compared to the other regions in the country. Furthermore, the Upper West region registered the lowest CPI, at 197.9 points.

Graph and download economic data for Consumer Price Index for Ghana (DDOE01GHA086NWDB) from 1963 to 2017 about Ghana, CPI, price index, indexes, and price.

Inflation Rate in Ghana decreased to 23.10 percent in February from 23.50 percent in January of 2025. This dataset provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

In 2022, the Consumer Price Index (CPI) in Ghana grew to 441.67 points from 336.49 points in the previous year. Furthermore, the change in the cost of consumer goods and services saw a progressive increase from 108.7 points in 2011 to the 2022 figure, which registers a total growth of 332.97 points. Overall, as of September 2023 in Ghana, the inflation rate stood at 49.3 percent for food and non-alcoholic beverages.

The Consumer Price Index in Ghana was reported at 194.1 points in September 2023, which was an increase of 53.5 points compared to September 2022. Inflation increased progressively from September 2022 onwards. Overall, within the period reviewed, the change in prices of goods and services consumed by households in Ghana achieved a monthly inflation change rate ranging between minus 1.2 and 8.6 percent.

Ghana GH: Consumer Price Index data was reported at 232.256 2010=100 in 2017. This records an increase from the previous number of 206.686 2010=100 for 2016. Ghana GH: Consumer Price Index data is updated yearly, averaging 2.356 2010=100 from Dec 1964 (Median) to 2017, with 54 observations. The data reached an all-time high of 232.256 2010=100 in 2017 and a record low of 0.001 2010=100 in 1964. Ghana GH: Consumer Price Index data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.IFS: Consumer and Producer Price Index: Annual.

Consumer Price Index (CPI) in Ghana, February, 2025 The most recent value is 255.9 index points as of February 2025, an increase compared to the previous value of 252.6 index points. Historically, the average for Ghana from January 2000 to February 2025 is 69.6858 index points. The minimum of 7.0953 index points was recorded in January 2000, while the maximum of 255.9 index points was reached in February 2025. | TheGlobalEconomy.com

Inflation, monthly percent change in the CPI in Ghana, February, 2025 The most recent value is 1.31 percent as of February 2025, a decline compared to the previous value of 1.73 percent. Historically, the average for Ghana from February 2000 to February 2025 is 1.29 percent. The minimum of -1.52 percent was recorded in September 2011, while the maximum of 12.8 percent was reached in February 2003. | TheGlobalEconomy.com

CPI Housing Utilities in Ghana increased to 302.40 points in February from 301.20 points in January of 2025. This dataset provides - Ghana Cpi Housing Utilities- actual values, historical data, forecast, chart, statistics, economic calendar and news.

Ghana GH: Consumer Price Index (CPI): % Change data was reported at 12.372 % in 2017. This records a decrease from the previous number of 17.455 % for 2016. Ghana GH: Consumer Price Index (CPI): % Change data is updated yearly, averaging 18.031 % from Dec 1965 (Median) to 2017, with 53 observations. The data reached an all-time high of 122.875 % in 1983 and a record low of -8.422 % in 1967. Ghana GH: Consumer Price Index (CPI): % Change data remains active status in CEIC and is reported by International Monetary Fund. The data is categorized under Global Database’s Ghana – Table GH.IMF.IFS: Consumer and Producer Price Index: Annual.

As of September 2023, the consumer price index (CPI) in Ghana was highest under the Classification of Individual Consumption by Purpose (COICOP) division for Furnishings, household equipment and routine household maintenance (224.4 points). The lowest non-food CPI was achieved in the insurance and financial services sector, at 119.7 points. Overall, the average CPI for all non-food items in Ghana reached 180.1 points from August 2019 to September 2023.

Ghana Consumer Price Index (CPI): Ashanti data was reported at 229.858 2012=100 in Jun 2018. This records an increase from the previous number of 227.342 2012=100 for May 2018. Ghana Consumer Price Index (CPI): Ashanti data is updated monthly, averaging 149.182 2012=100 from Jan 2012 (Median) to Jun 2018, with 78 observations. The data reached an all-time high of 229.858 2012=100 in Jun 2018 and a record low of 95.598 2012=100 in Apr 2012. Ghana Consumer Price Index (CPI): Ashanti data remains active status in CEIC and is reported by Ghana Statistical Service. The data is categorized under Global Database’s Ghana – Table GH.I004: Consumer Price Index: Regional: 2012=100.

Graph and download economic data for Real Effective Exchange Rate as Based on Consumer Price Index for Ghana (GHAEREERIX) from 2000 to 2023 about Ghana, consumer prices, REO, exchange rate, consumer, real, rate, and indexes.

In September 2023, Greater Accra was the region in Ghana with the highest Consumer Price Index (CPI) for non-food, compared to the other regions. The region reached a CPI of 193 points, going above the national average of 180.1. On the other hand, the Upper West region recorded the lowest CPI (145.3 points), which was 34.8 points below the national average.

Konsumentprisindex CPI i Ghana ökade till 252,60 poäng i januari från 248,30 poäng i december 2024. Konsumentprisindex CPI i Ghana ökade till 226,40 poäng i juni från 220 poäng i maj 2024.

The type of food and non-alcoholic beverages in Ghana which achieved the highest Consumer Price Index (CPI) as of September 2023 were Tea, maté and other plant products for infusion, reaching 307.2 points. This was followed by Cocoa drinks, with 240.9 points. As of the same date, fruits and nuts registered the lowest CPI (185.1 points) in the country. Overall, the average CPI of food and non-alcoholic beverages was 209.68 points.

In 2021, the inflation rate in Ghana amounted to about 9.98 percent compared to the previous year. Ghana’s inflation peaked at almost 17.5 percent in 2016 and is predicted to decrease to 8 percent by 2029.

Steady is best for inflation

According to economists, a steady inflation rate between two and three percent is desirable to achieve a stable economy in a country. Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i.e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse. This scenario is currently taking place in Venezuela , for example. The opposite of inflation, the decrease in the price level of goods and services below zero percent, is called deflation. While hyperinflation devalues money, deflation usually increases its value. Both events can damage an economy severely.

Is Ghana’s economy at risk?

Ghana’s economy is considered quite stable and fast-growing, and is rich in oil, diamonds, and gold. After struggling in the years around 2015 due to increased government spending and plummeting oil prices, it is now on an upswing again. This is also reflected in the decreasing inflation rate, and other key indicators like unemployment and rapid GDP growth support this theory. However, Ghana’s government debt is still struggling with the consequences of the 2015 crisis and forecast to keep skyrocketing during the next few years.

Ghana Consumer Price Index (CPI): Upper East data was reported at 193.459 2012=100 in Jun 2018. This records an increase from the previous number of 192.215 2012=100 for May 2018. Ghana Consumer Price Index (CPI): Upper East data is updated monthly, averaging 137.365 2012=100 from Jan 2012 (Median) to Jun 2018, with 78 observations. The data reached an all-time high of 193.459 2012=100 in Jun 2018 and a record low of 95.472 2012=100 in Jan 2012. Ghana Consumer Price Index (CPI): Upper East data remains active status in CEIC and is reported by Ghana Statistical Service. The data is categorized under Global Database’s Ghana – Table GH.I004: Consumer Price Index: Regional: 2012=100.