Inflation Ghana 2008
Average inflation: 16.5%
Current Inflation
Inflation is very high at 16.5%, far above the ECB target.
Peak and Trough
The highest inflation was in June at 18.4%. The lowest inflation was in January at 12.8%.
- Highest month
- June: 18.4%
- Lowest month
- January: 12.8%
- Difference
- 5.6 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 17.9%. The lowest price increase was in Food with an average of 15.1%.
- Highest increase
- Energy: 17.9%
- Lowest increase
- Food: 15.1%
Historical Context
Current inflation is 2.0% higher than the 5-year average of 14.5%.
- 5-year average
- 14.5%
- 10-year average
- 20.1%
- All-time high (2001)
- 43.5%
- All-time low (1999)
- 5%
Trend
Inflation shows an upward trend. Compared to 2007, inflation has risen by +5.8 percentage point.
- Change vs. previous year
- +5.8 percentage points
- Largest monthly swing
- July: +8.2 percentage points
ECB Target
Inflation is 14.5% 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 €100 this year will cost approximately €116.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2008
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2007 |
|---|---|---|
| January | 12.8% | +1.9 |
| February | 13.2% | +2.8 |
| March | 13.8% | +3.6 |
| April | 15.3% | +4.8 |
| May | 16.9% | +5.9 |
| June | 18.4% | +7.7 |
| July | 18.3% | +8.2 |
| August | 18.1% | +7.7 |
| September | 17.9% | +7.7 |
| October | 17.3% | +7.2 |
| November | 17.4% | +6.0 |
| December | 18.1% | +5.4 |
| Average | 16.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.