Inflation Ghana 2017
Average inflation: 12.4%
Current Inflation
Inflation is very high at 12.4%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 13.3%. The lowest inflation was in October at 11.6%.
- Highest month
- January: 13.3%
- Lowest month
- October: 11.6%
- Difference
- 1.7 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Food with an average of 7.3%. The lowest price increase was in Energy with an average of 7.1%.
- Highest increase
- Food: 7.3%
- Lowest increase
- Energy: 7.1%
Historical Context
Current inflation is 2.4% lower than the 5-year average of 14.8%.
- 5-year average
- 14.8%
- 10-year average
- 14.1%
- All-time high (2001)
- 43.5%
- All-time low (1999)
- 5%
Trend
Inflation shows a downward trend. Compared to 2016, inflation has fallen by +5.1 percentage point.
- Change vs. previous year
- -5.1 percentage points
- Largest monthly swing
- March: -6.4 percentage points
ECB Target
Inflation is 10.4% 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 €112.40 next year at this inflation rate.
Multi-year trend
Monthly figures 2017
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2016 |
|---|---|---|
| January | 13.3% | -5.7 |
| February | 13.2% | -5.3 |
| March | 12.8% | -6.4 |
| April | 13.0% | -5.7 |
| May | 12.6% | -6.3 |
| June | 12.1% | -6.3 |
| July | 11.9% | -4.8 |
| August | 12.3% | -4.6 |
| September | 12.2% | -5.0 |
| October | 11.6% | -4.2 |
| November | 11.7% | -3.8 |
| December | 11.8% | -3.6 |
| Average | 12.4% |
Data source
Data from WorldBank. Last updated: 06/01/2026.