Ghana’s inflation rate hits 15.7% under Akufo-Addo; The highest ever since 2016

H.E Nana Addo Dankwa Akufo-Addo
H.E Nana Addo Dankwa Akufo-Addo

Ghana’s inflation rate is currently standing at 15.7% under President Nana Addo Dankwa Akufo-Addo’s government and considered as the highest ever since 2016.

According to the available statistics, the inflation rate as measured by the CPI stood at 15.7 percent in March, 2022.

The inflation rate, which is determined by the rate at which prices of goods and services increase over time resulting in a fall in the purchasing value of money has recently been on the rise across the globe.

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Currently, the American Dollar is selling at GH¢7.09 per dollar.

Prices of commodities like fuel, cement among others have been on the rise, with a bag of cement selling between the ranges of GH¢55.00 to GH¢57.00 within Accra and GH¢56.00 to GH¢60.00 outside Accra among.

The Inflation Rate for December 2016 is 15.4% as campared against 15.7% in March, 2022. 

The Consumer Price Index (CPI) measures the change over time in the general price level of goods and services that households acquire for the purpose of consumption, with reference to the price level in 2012, the base year, which has an index of 100.

The year-on-year inflation rate as measured by the CPI stood at 15.4 percent in December 2016, down by 0.1 percentage point from the 15.5 percent recorded in November 2016. This rate of inflation for December 2016 is the percentage change in the Consumer Price Index (CPI)
over the twelve-month period, from December 2015 to December 2016

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The chat below shows years and inflation rates recorded from 2016 to 2022.

2022 – 15.7%
2021 – 12.2%
2020 – 10.4%
2019 – 7.9%
2018 – 9.4%
2017 – 11.7%
2016 – 15.4%

ATTENTION: Ghana’s economy at a cross-road; facing tough time to restore macro sustainability – World Bank



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