Ghana Inflation Rate

Last Release

Nov 30, 2024

Actual

Units In

22.1

Frequency

Monthly

Next Release

Jan 10, 2025

Time to Release

1 Months 4 Days 10 Hours

Highest	Lowest	Average	Date Range	Source
63.1 Mar 2001	0.4 May 1999	17.32 %	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 climbed for the third month to 23% in November 2024, the steepest since May, accelerating from 22.1% in the prior month. Upward pressure came mostly from food prices (25.9% vs 22.8% in October), especially for staple items like beans and yams. Non-food inflation decelerated to 20.7% from 21.5%. On a monthly basis, consumer prices surged by 2.6% in November, after a 0.8% rise in the prior month. Ghana is heading for its ninth general election on December 7th, with polls revealing that the ongoing cost-of-living crisis is a major concern for voters, likely to influence the election outcome significantly.