Ghana Inflation Blows Past 37% in September 2022 – The Highest in 20 Years

Some of the products that have become most expensive include water (59%), dairy products (49%), and cereal products (48%)


Ghana’s annual inflation rate rose to 37.2% in September 2022 as the cost of living has gotten worse over the last year, data from the Ghana Statistical Service (GSS) shows.

In August 2022, inflation stood at 33.9%, at the time, the highest growth in prices recorded since 2021. According to GSS, inflation between August 2022 and September 2022 was 2.0%.

Here is the annual inflation rate over the last 12 months:


  • Food inflation (0.437) was 37.8%, indicating that prices of food have increased by that much in the last 12 months. Month-on-month food inflation stood at 2.2%
  • Non-food inflation (0.563) was 36.8% on an annual basis while month-on-month prices of non-food items increased by 1.7%
  • Inflation for locally produced items was 35.8% while imported items was 40.7%.

Besides food, lifestyle services are the main drivers for inflation since 2021 as was reported by the government service:

  • Housing, water, electricity, gas, and other fuels have increased by 68.8%
  • Furnishings, household equipment, and routine household maintenance increased by 51.5%
  • Transport by 46.8%
  • Personal care, social protection, and miscellaneous goods and services rose by  42.6%
  • Food and non-alcoholic beverages by 37.8%

Some of the products that have become most expensive include:

  • Water whose prices increased by 58.9%
  • Milk and other dairy products, and eggs increased by 49%
  • Cereals and cereal products rose by 48%

Greater Accra region is responsible for 34.7% of the inflation, with the second region being Ashanti at 17.9%.



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