Latest reading: Harmonized consumer prices increased 3.5% on a year-on-year basis in May, following a 3.6% rise in the previous...
Inflation in Ghana
Consumer price inflation in Ghana averaged 17.6% in the ten years to 2024, in line with the Sub-Saharan Africa regional average of 10.8%. The 2024 average figure was 22.9%. For more information on inflation, visit our dedicated page.
Ghana Inflation Chart
Note: This chart displays Inflation Rate (CPI, annual variation in %) for Ghana from 2014 to 2025.
Source: Macrobond.
Ghana Inflation Data
| 2021 | 2022 | 2023 | 2024 | 2025 | |
|---|---|---|---|---|---|
| Inflation (CPI, ann. var. %, aop) | 10.0 | 31.9 | 39.2 | 22.9 | 14.2 |
| Inflation (CPI, ann. var. %, eop) | 12.6 | 54.2 | 23.2 | 23.8 | 5.4 |
Inflation rises in May from April
Latest reading: Consumer prices were up 3.7% on a year-on-year basis in May, following a 3.4% rise in the previous month. Relative to the prior month's data, there were higher price pressures for food and non-alcoholic beverages (+3.3% on a year-on-year basis vs +2.2% in April) and transport (-2.8% vs -3.4% in April). In contrast, there were milder price pressures for housing, water, electricity, gas and other fuels (+11.8% vs +12.4% in April), clothing and footwear (+1.8% vs +2.6% in April) and recreation and entertainment (+4.2% vs +4.8% in April). Finally, consumer prices increased 1.08% in May on a month-on-month basis, following a 0.95% rise in the previous month.
Consensus Forecasts and Projections for the next ten years
How should you choose a forecaster if some are too optimistic while others are too pessimistic? FocusEconomics collects Ghanaian inflation projections for the next ten years from a panel of 17 analysts at the leading national, regional and global forecast institutions. These projections are then validated by our in-house team of economists and data analysts and averaged to provide one Consensus Forecast you can rely on for each indicator. By averaging all forecasts, upside and downside forecasting errors tend to cancel each other out, leading to the most reliable inflation forecast available for Ghanaian inflation.
Download one of our sample reports to visualize what a Consensus Forecast is and see our Ghanaian inflation projections.
Want to get access to the full dataset of Ghanaian inflation forecasts? Send an email to info@focus-economics.com.
Latest Global Inflation News
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Bulgaria: Inflation rises in May from April Latest reading: Harmonized consumer prices rose 6.3% on a year-on-year basis in May, following a 6.0% rise in the prior... -
Austria: Inflation accelerates in May from April Latest reading: Harmonized consumer prices increased 3.7% in annual terms in May, following a 3.4% rise in the previous month....