Inflation Ghana 2014
Average inflation: 15.5%
Current Inflation
Inflation is very high at 15.5%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 17.0%. The lowest inflation was in January at 13.8%.
- Highest month
- November: 17.0%
- Lowest month
- January: 13.8%
- Difference
- 3.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 47.5%. The lowest price increase was in Food with an average of 6.8%.
- Highest increase
- Energy: 47.5%
- Lowest increase
- Food: 6.8%
Historical Context
Current inflation is 3.9% higher than the 5-year average of 11.6%.
- 5-year average
- 11.6%
- 10-year average
- 13.2%
- All-time high (2001)
- 43.5%
- All-time low (1999)
- 5%
Trend
Inflation shows an upward trend. Compared to 2013, inflation has risen by +3.8 percentage point.
- Change vs. previous year
- +3.8 percentage points
- Largest monthly swing
- September: +4.6 percentage points
ECB Target
Inflation is 13.5% 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 €115.50 next year at this inflation rate.
Multi-year trend
Monthly figures 2014
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2013 |
|---|---|---|
| January | 13.8% | +3.7 |
| February | 14.0% | +3.6 |
| March | 14.5% | +3.7 |
| April | 14.7% | +3.8 |
| May | 14.8% | +3.8 |
| June | 15.0% | +3.4 |
| July | 15.3% | +3.5 |
| August | 15.9% | +4.4 |
| September | 16.5% | +4.6 |
| October | 16.9% | +3.8 |
| November | 17.0% | +3.8 |
| December | 17.0% | +3.5 |
| Average | 15.5% |
Data source
Data from WorldBank. Last updated: 06/01/2026.