Inflation Ghana 2021
Average inflation: 10.0%
Current Inflation
Inflation is very high at 10.0%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 12.6%. The lowest inflation was in May at 7.5%.
- Highest month
- December: 12.6%
- Lowest month
- May: 7.5%
- Difference
- 5.1 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 20.0%. The lowest price increase was in Food with an average of 10.3%.
- Highest increase
- Energy: 20.0%
- Lowest increase
- Food: 10.3%
Historical Context
Current inflation is 0.6% higher than the 5-year average of 9.4%.
- 5-year average
- 9.4%
- 10-year average
- 12%
- All-time high (2003)
- 29.8%
- All-time low (2019)
- 7.1%
Trend
Inflation shows an upward trend. Compared to 2020, inflation has risen by +0.1 percentage point.
- Change vs. previous year
- +0.1 percentage points
- Largest monthly swing
- May: -3.7 percentage points
ECB Target
Inflation is 8.0% 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 €110.00 next year at this inflation rate.
Multi-year trend
Monthly figures 2021
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2020 |
|---|---|---|
| January | 9.9% | +2.2 |
| February | 10.3% | +2.6 |
| March | 10.3% | +2.6 |
| April | 8.5% | -2.0 |
| May | 7.5% | -3.7 |
| June | 7.8% | -3.3 |
| July | 9.0% | -2.3 |
| August | 9.7% | -0.7 |
| September | 10.6% | +0.3 |
| October | 11.0% | +0.9 |
| November | 12.3% | +2.5 |
| December | 12.6% | +2.1 |
| Average | 10.0% |
Data source
Data from WorldBank. Last updated: 06/01/2026.