Inflation rates by country and year

-8.4%24.4%57.2%90.1%122.9%
-8.4%24.4%57.2%90.1%122.9%
196526.4%
199559.5%
202514.2%
Source: World Bank

Data: World Bank, annual %. For information only — not financial advice.

Year2025Inflation Rate14.2%

Behind the curve

Turning points in Ghana

  1. 1983↕ Mixed effects

    Devaluation was paired with fiscal and price reform — Wikipedia (opens in a new tab)

    Ghana's 1983 Economic Recovery Program replaced controls with price and exchange-rate liberalization, fiscal discipline and lower bank financing of government. Discrete cedi devaluations initially reset prices but the program subsequently cut inflation sharply.

    IMF: Ghana, 1983–91, in Adjustment Experience of Sub-Saharan Africa
  2. 2008↑ Upward pressure

    Domestic food and import costs amplified inflation — Wikipedia (opens in a new tab)

    Ghana's 2008 inflation episode combined global food and energy prices with domestic demand and a weakening cedi. The transmission was reinforced by the cost of imported oil and food, rather than being a generic global-shock annotation.

    IMF Country Report 08/332: Ghana—Selected Issues
  3. 2022↑ Upward pressure

    Budget financing and the cedi collapse magnified inflation — Wikipedia (opens in a new tab)

    Global food and fuel prices collided with pandemic-era fiscal and monetary stimulus, monetary financing of the deficit and a sharp cedi depreciation. Inflation reached 54 percent by December 2022 as imported costs passed through domestic prices.

    IMF Country Report 23/168: Ghana—Request for an Extended Credit Facility Arrangement

These are selected historical influences, not a complete account of inflation. An upward-pressure event can coincide with a peak when its inflationary effect has already occurred or when other forces begin pushing inflation lower. The markers show the years in which events occurred, although their effects may extend into later years.

What is the inflation in Ghana?

The annual inflation rate in Ghana was 14.2% in 2025, the most recent year in the World Bank dataset. That means prices rose 14.2% on average compared with the year before. Use the chart above to explore Ghana's full inflation history from 1965 to 2025, and to compare it with any other country.

How inflation in Ghana has changed

Inflation in Ghana peaked at 122.9% in 1983 and reached its lowest point at -8.4% in 1967. Averaged across the 61 years of available data (1965–2025), the rate has been 27.0% per year.

Frequently asked questions about inflation in Ghana

What is the current inflation rate in Ghana?

The latest available annual figure is 14.2% in 2025, from the World Bank. Because the figures are reported annually, they may not reflect the most recent monthly reading published by Ghana's statistical office.

What was the highest inflation rate in Ghana?

The highest annual inflation rate on record is 122.9%, reached in 1983.

What was the lowest inflation rate in Ghana?

The lowest annual inflation rate on record is -8.4%, recorded in 1967.

Where does the inflation data for Ghana come from?

All figures come from the World Bank's World Development Indicators (indicator FP.CPI.TOTL.ZG), which report annual consumer price inflation for more than 200 countries and territories from 1960 onward.