Inflation Ghana 2019
Average inflation: 7.1%
Current Inflation
Inflation is very high at 7.1%, far above the ECB target.
Peak and Trough
The highest inflation was in November at 8.0%. The lowest inflation was in January at 5.9%.
- Highest month
- November: 8.0%
- Lowest month
- January: 5.9%
- Difference
- 2.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 11.2%. The lowest price increase was in Food with an average of 6.7%.
- Highest increase
- Energy: 11.2%
- Lowest increase
- Food: 6.7%
Historical Context
Current inflation is 5.3% lower than the 5-year average of 12.4%. This approaches the lowest level since records began (7.1% in 2019).
- 5-year average
- 12.4%
- 10-year average
- 12%
- All-time high (2001)
- 43.5%
- All-time low (2019)
- 7.1%
Trend
Inflation shows a downward trend. Compared to 2018, inflation has fallen by +0.7 percentage point.
- Change vs. previous year
- -0.7 percentage points
- Largest monthly swing
- January: -4.4 percentage points
ECB Target
Inflation is 5.1% 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 €107.10 next year at this inflation rate.
Multi-year trend
Monthly figures 2019
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2018 |
|---|---|---|
| January | 5.9% | -4.4 |
| February | 6.1% | -3.8 |
| March | 6.5% | -2.5 |
| April | 6.5% | -1.5 |
| May | 7.0% | -0.8 |
| June | 7.5% | 0.0 |
| July | 7.5% | +0.3 |
| August | 7.7% | +0.1 |
| September | 7.5% | -0.2 |
| October | 7.6% | +0.6 |
| November | 8.0% | +1.7 |
| December | 7.8% | +2.0 |
| Average | 7.1% |
Data source
Data from WorldBank. Last updated: 06/01/2026.