Inflation Ghana 1998
Average inflation: 13.4%
Inflation in 1998
Inflation is very high at 13.4%, far above the ECB target.
Peak and Trough
The highest inflation was in October at 14.5%. The lowest inflation was in December at 12.3%.
- Highest month
- October: 14.5%
- Lowest month
- December: 12.3%
- Difference
- 2.2 percentage points
- Months with data
- 4 of 12
Historical Context
Inflation is around the 5-year average of 13.4%. This approaches the highest level since records began (13.4% in 1998).
- 5-year average
- 13.4%
- 10-year average
- 13.4%
- All-time high (1998)
- 13.4%
- All-time low (1998)
- 13.4%
Trend
ECB Target
Inflation is 11.4 percentage points above the ECB target of 2.0%. This means purchasing power is declining faster than intended.
Purchasing Power
At this high inflation rate, purchasing power rapidly decreases. This has a major impact on households, especially without adequate salary increases.
What you could buy for GHS 100 this year will cost approximately GHS 113.40 next year at this inflation rate.
Multi-year trend
Monthly figures 1998
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation |
|---|---|
| September | 13.5% |
| October | 14.5% |
| November | 13.1% |
| December | 12.3% |
| Average | 13.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026. Not all months available yet.