Inflation Ghana 2022
Average inflation: 30.9%
Current Inflation
Inflation is very high at 30.9%, far above the ECB target.
Peak and Trough
The highest inflation was in December at 52.1%. The lowest inflation was in January at 13.9%.
- Highest month
- December: 52.1%
- Lowest month
- January: 13.9%
- Difference
- 38.2 percentage points
- Months with data
- 12 of 12
Category Insights
The highest price increase was in Energy with an average of 46.5%. The lowest price increase was in Food with an average of 33.8%.
- Highest increase
- Energy: 46.5%
- Lowest increase
- Food: 33.8%
Historical Context
Current inflation is 17.8% higher than the 5-year average of 13.1%. This approaches the highest level since records began (30.9% in 2022).
- 5-year average
- 13.1%
- 10-year average
- 14%
- All-time high (2022)
- 30.9%
- All-time low (2019)
- 7.1%
Trend
Inflation shows an upward trend. Compared to 2021, inflation has risen by +20.9 percentage point.
- Change vs. previous year
- +20.9 percentage points
- Largest monthly swing
- December: +39.5 percentage points
ECB Target
Inflation is 28.9% 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 €130.90 next year at this inflation rate.
Multi-year trend
Monthly figures 2022
Inflation by category
Inflation differs per product group. Click on a category for the historical trend.
Month overview
| Month | Inflation | Difference vs. 2021 |
|---|---|---|
| January | 13.9% | +4.0 |
| February | 15.7% | +5.4 |
| March | 19.4% | +9.1 |
| April | 23.6% | +15.1 |
| May | 27.6% | +20.1 |
| June | 29.8% | +22.0 |
| July | 31.8% | +22.8 |
| August | 33.9% | +24.2 |
| September | 35.7% | +25.1 |
| October | 38.5% | +27.5 |
| November | 48.3% | +36.0 |
| December | 52.1% | +39.5 |
| Average | 30.9% |
Data source
Data from WorldBank. Last updated: 06/01/2026.