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 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.

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.

Cost of food in Ghana increased 28.10 percent in February 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 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.

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.

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

This dataset provides values for INFLATION RATE reported in several countries. The data includes current values, previous releases, historical highs and record lows, release frequency, reported unit and currency.

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 27.60 percent in February 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.

Ghana Core Inflation Rate: excl Energy, Utility and All Food Items data was reported at 11.200 % in Oct 2018. This records a decrease from the previous number of 11.900 % for Sep 2018. Ghana Core Inflation Rate: excl Energy, Utility and All Food Items data is updated monthly, averaging 16.900 % from Jan 2016 (Median) to Oct 2018, with 34 observations. The data reached an all-time high of 24.900 % in Mar 2016 and a record low of 11.200 % in Oct 2018. Ghana Core Inflation Rate: excl Energy, Utility and All Food Items 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.

Inflation Rate in Nigeria decreased to 23.18 percent in February from 24.48 percent in January of 2025. This dataset provides - Nigeria Inflation Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news.

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.

Ghana Core Inflation Rate: excl Energy, Utility and All Food Items: 2021=100 data was reported at 17.100 % in Dec 2024. This records a decrease from the previous number of 17.600 % for Nov 2024. Ghana Core Inflation Rate: excl Energy, Utility and All Food Items: 2021=100 data is updated monthly, averaging 23.000 % from Oct 2021 (Median) to Dec 2024, with 38 observations. The data reached an all-time high of 47.200 % in Dec 2022 and a record low of 9.100 % in Oct 2021. Ghana Core Inflation Rate: excl Energy, Utility and All Food Items: 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.

In September 2023, prices of food and non-food fell the most in the Upper East region of Ghana, reaching an inflation rate of minus 0.5 percent. On the other hand, as of the same date, the highest monthly inflation rate was registered in the Greater Accra region with 3.2 percent, followed by the Eastern region at 3.1 percent. Overall, three regions recorded an inflation rate above the national average.

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.

Ghana Core Inflation Rate: excl Energy, Utility and Volatile Items: 2021=100 data was reported at 16.900 % in Aug 2024. This records an increase from the previous number of 16.700 % for Jul 2024. Ghana Core Inflation Rate: excl Energy, Utility and Volatile Items: 2021=100 data is updated monthly, averaging 27.600 % from Oct 2021 (Median) to Aug 2024, with 34 observations. The data reached an all-time high of 53.500 % in Dec 2022 and a record low of 10.300 % in Oct 2021. Ghana Core Inflation Rate: excl Energy, Utility and Volatile Items: 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.

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.

In September 2023, the food and non-alcoholic beverage inflation rate in Ghana increased by 49.3 percent over the same month in 2022. Moreover, the year-on-year rate in September 2023 was 5.7 percentage point lower compared to July 2023 which stood at 55 percent.

Wskaźnik cen konsumpcyjnych w Ghanie wzrósł o 1,70 procenta w styczniu 2025 roku w porównaniu z poprzednim miesiącem. Aktualne wartości, dane historyczne, prognozy, statystyki, wykresy i kalendarz ekonomiczny - Ghana - Inflacja m/m.