Ghana Inflation Rate

Last Release

Feb 29, 2024

Actual

23.2

Units In

23.5

Frequency

Monthly

Next Release

Apr 12, 2024

Time to Release

29 Days 1 Hours

Highest	Lowest	Average	Date Range	Source
63.1 Mar 2001	0.4 May 1999	17.16 %	1998-2024	Ghana Statistical Service

In Ghana, the most important components in the Consumer Price Index (CPI) are Food and Non Alcoholic Beverages (43.6 percent of total weight); Housing, Water, Electricity, Gas and Other Utilities (9.5 percent) and Clothing and Footwear (8.9 percent). Transport account for 7.2 percent of total index, Miscellaneous Goods and Services for 7 percent, Hotels, Cafés and Restaurants for 6 percent and Furnishing and Household Equipment for 4.6 percent. Education represents 3.8 percent of total weight, Recreation and Culture another 2.7 percent and Communication 2.6 percent. Health accounts for the remaining 2.4 percent and Alcoholic Beverages, Tobacco and Narcotics 1.6 percent.

Latest Updates

Ghana's annual consumer inflation eased slightly to 23.2% in February 2024, compared with 23.5% in January but still well above the central bank's target band of 6% to 10%. Prices slowed down for both food (27% from 27.1% in January) and non-food products (20% vs 20.5%). The Bank of Ghana had predicted that inflation would close the year at between 13% and 17%, before gradually trending back to within its medium-term target range of 6% to 10% by the end of 2025.