Inflation Ghana 2018
Average inflation: 7.8%
Current Inflation
Inflation is very high at 7.8%, far above the ECB target.
Peak and Trough
The highest inflation was in January at 10.3%. The lowest inflation was in December at 5.8%.
- Highest month
- January: 10.3%
- Lowest month
- December: 5.8%
- Difference
- 4.5 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 8.2%. The lowest price increase was in Food with an average of 5.9%.
- Highest increase
- Energy: 8.2%
- Lowest increase
- Food: 5.9%
Historical Context
Current inflation is 6.3% lower than the 5-year average of 14.1%.
- 5-year average
- 14.1%
- 10-year average
- 13.2%
- All-time high (2001)
- 43.5%
- All-time low (1999)
- 5%
Trend
Inflation shows a downward trend. Compared to 2017, inflation has fallen by +4.6 percentage point.
- Change vs. previous year
- -4.6 percentage points
- Largest monthly swing
- December: -6.0 percentage points
ECB Target
Inflation is 5.8% 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 €107.80 next year at this inflation rate.
Multi-year trend
Monthly figures 2018
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2017 |
|---|---|---|
| January | 10.3% | -3.0 |
| February | 9.9% | -3.3 |
| March | 9.0% | -3.8 |
| April | 8.0% | -5.0 |
| May | 7.8% | -4.8 |
| June | 7.5% | -4.6 |
| July | 7.2% | -4.7 |
| August | 7.6% | -4.7 |
| September | 7.7% | -4.5 |
| October | 7.0% | -4.6 |
| November | 6.3% | -5.4 |
| December | 5.8% | -6.0 |
| Average | 7.8% |
Data source
Data from WorldBank. Last updated: 06/01/2026.