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Ghana Inflation Rate
Last Release
Feb 29, 2024
Actual
23.2
Units In
%
Previous
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.
Ghana Inflation Rate History
Last 12 readings