Inflation Rate in Ghana decreased to 18.40 percent in May from 21.20 percent in April of 2025. This dataset provides - Ghana Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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 2030. Steady is best for inflationAccording 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 inflation rate for 2024 was 22.85%, a 15.26% decline from 2023.

<ul style='margin-top:20px;'>

<li>Ghana inflation rate for 2023 was <strong>38.11%</strong>, a <strong>6.85% increase</strong> from 2022.</li>
<li>Ghana inflation rate for 2022 was <strong>31.26%</strong>, a <strong>21.28% increase</strong> from 2021.</li>
<li>Ghana inflation rate for 2021 was <strong>9.97%</strong>, a <strong>0.08% increase</strong> from 2020.</li>
</ul>Inflation as measured by the consumer price index reflects the annual percentage change in the cost to the average consumer of acquiring a basket of goods and services that may be fixed or changed at specified intervals, such as yearly. The Laspeyres formula is generally used.

As of September 2023, the year-on-year inflation rate for food and non-food in Ghana was highest in the Eastern region, which registered 49.9 percent. As of the same date, the Ashanti region recorded the lowest yearly rate in prices of goods and services in the country at 31.2 percent.

Inflation, monthly percent change in the CPI in Ghana, April, 2025 The most recent value is 0.82 percent as of April 2025, an increase compared to the previous value of 0.23 percent. Historically, the average for Ghana from February 2000 to April 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

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 Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation data was reported at 10.500 % in Oct 2018. This records a decrease from the previous number of 10.800 % for Sep 2018. Ghana Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation data is updated monthly, averaging 12.650 % from Jan 2016 (Median) to Oct 2018, with 34 observations. The data reached an all-time high of 17.900 % in Jul 2016 and a record low of 10.500 % in Oct 2018. Ghana Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.I006: Core Inflation Rates.

As shown in this statistic, the annual average consumer price index in Ghana amounts to approximately ****** points in 2025.Continuous rise between 1980 and 2025A comparison to the earliest shown observation from 1980 reveals a total increase by approximately ****** points. The trajectory from 1980 to 2025 shows furthermore that this increase happened continuously.Continuous rise between 2025 and 2030In 2030 the index will lie at around ************* points, according to forecasts. There is an overall increase by approximately ****** points since 2025. This growth reflects a steady upward trend.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.

Inflation, GDP deflator: linked series (annual %) in Ghana was reported at 33.08 % in 2023, according to the World Bank collection of development indicators, compiled from officially recognized sources. Ghana - Inflation, GDP deflator: linked series (annual %) - actual values, historical data, forecasts and projections were sourced from the World Bank on June of 2025.

In April 2025, the food and non-alcoholic beverage inflation rate in Ghana increased by 25 percent over the same month in 2024. Moreover, considering the period observed, the year-on-year rate was highest in January 2023.

Ghana GH: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data was reported at 13.395 % in 2017. This records a decrease from the previous number of 17.809 % for 2016. Ghana GH: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data is updated yearly, averaging 17.429 % from Dec 1990 (Median) to 2017, with 28 observations. The data reached an all-time high of 43.045 % in 1995 and a record low of 11.150 % in 1992. Ghana GH: Inflation:(GDP) Gross Domestic ProductDeflator: Linked Series data remains active status in CEIC and is reported by World Bank. The data is categorized under Global Database’s Ghana – Table GH.World Bank.WDI: Inflation. Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. This series has been linked to produce a consistent time series to counteract breaks in series over time due to changes in base years, source data and methodologies. Thus, it may not be comparable with other national accounts series in the database for historical years.; ; World Bank staff estimates based on World Bank national accounts data archives, OECD National Accounts, and the IMF WEO database.; ;

Inflation data scraped from Ghana Statistical Service to be added to the ADH Inflation Database

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.

Producer Prices in Ghana increased 18.50 percent in April of 2025 over the same month in the previous year. This dataset provides the latest reported value for - Ghana Producer Prices Change - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news.

Cost of food in Ghana increased 22.80 percent in May of 2025 over the same month in the previous year. This dataset provides - Ghana Food Inflation - actual values, historical data, forecast, chart, statistics, economic calendar and news.

Ghana Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation: 2021=100 data was reported at 20.000 % in Aug 2024. This records a decrease from the previous number of 20.800 % for Jul 2024. Ghana Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation: 2021=100 data is updated monthly, averaging 28.100 % from Oct 2021 (Median) to Aug 2024, with 34 observations. The data reached an all-time high of 54.400 % in Dec 2022 and a record low of 10.000 % in Oct 2021. Ghana Core Inflation Rate: excl Energy, Utility, Volatile Items and Transportation: 2021=100 data remains active status in CEIC and is reported by Bank of Ghana. The data is categorized under Global Database’s Ghana – Table GH.I010: Core Inflation Rates.

Graph and download economic data for Inflation, consumer prices for Ghana (FPCPITOTLZGGHA) from 1965 to 2024 about Ghana, consumer, CPI, inflation, price index, indexes, and price.

In November 2021, the inflation rate in Ghana increased to 12.2 percent over the same month in 2020. The year-on-year rate was 1.2 percentage points higher, compared to October 2021. That month, the inflation stood at 11 percent.

Key information about Ghana Consumer Price Index CPI growth

• Ghana Consumer Price Index (CPI) growth was measured at 23.1 % YoY in Feb 2025, compared with a rate of 23.5 % in the previous month.
• Ghana Consumer Price Index growth data is updated monthly, available from Mar 1964 to Feb 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.

This dataset is about countries per year in Ghana. It has 64 rows. It features 4 columns: country, forest area, and inflation.