Inflation, GDP deflator (annual %) in Ghana
Ghana: Inflation, GDP deflator (annual %) was 14.4% in 2025. ◆ Volatile
Inflation, GDP deflator in Ghana, 1961–2025
Source: Country official statistics, National Statistical Offices (NSOs). Measured in annual %.
Analysis
Ghana recorded 14.4% for inflation, gdp deflator in 2025.
That represents a change of down 44.2% on the previous year and up 8.9% over ten years.
Over the whole period, inflation, gdp deflator in Ghana peaked at 123.1% in 1983 and was at its lowest, -3.9%, in 1967.
That places Ghana 21st out of 214 countries with data for 2025, putting it in the top 10%.
The series is highly variable year to year, so single readings are best treated with caution.
Inflation, GDP deflator (annual %) in Ghana, year by year
| Year | annual % | Change |
|---|---|---|
| 1961 | 3.5% | — |
| 1962 | 1.9% | -44.1% |
| 1963 | 6.7% | +247.7% |
| 1964 | 9.9% | +47.3% |
| 1965 | 17.0% | +71.2% |
| 1966 | 8.2% | -52.1% |
| 1967 | -3.9% | -147.6% |
| 1968 | 12.6% | -425.3% |
| 1969 | 11.0% | -12.5% |
| 1970 | 2.9% | -73.8% |
| 1971 | 5.2% | +79.4% |
| 1972 | 15.5% | +198.6% |
| 1973 | 20.9% | +35.0% |
| 1974 | 24.6% | +17.7% |
| 1975 | 29.5% | +19.9% |
| 1976 | 28.0% | -4.8% |
| 1977 | 67.3% | +139.8% |
| 1978 | 73.3% | +9.0% |
| 1979 | 37.9% | -48.2% |
| 1980 | 51.1% | +34.7% |
| 1981 | 75.6% | +47.9% |
| 1982 | 27.9% | -63.1% |
| 1983 | 123.1% | +341.2% |
| 1984 | 35.3% | -71.3% |
| 1985 | 20.6% | -41.5% |
| 1986 | 41.7% | +102.0% |
| 1987 | 39.2% | -6.0% |
| 1988 | 33.4% | -14.8% |
| 1989 | 28.3% | -15.3% |
| 1990 | 31.2% | +10.2% |
| 1991 | 20.0% | -35.7% |
| 1992 | 11.2% | -44.4% |
| 1993 | 31.8% | +184.8% |
| 1994 | 30.1% | -5.1% |
| 1995 | 43.0% | +42.9% |
| 1996 | 39.8% | -7.5% |
| 1997 | 19.5% | -51.2% |
| 1998 | 17.0% | -12.4% |
| 1999 | 14.0% | -18.1% |
| 2000 | 27.2% | +94.9% |
| 2001 | 34.8% | +27.9% |
| 2002 | 22.8% | -34.5% |
| 2003 | 28.7% | +25.8% |
| 2004 | 14.4% | -50.0% |
| 2005 | 15.0% | +4.3% |
| 2006 | 84.7% | +465.9% |
| 2007 | 16.1% | -81.0% |
| 2008 | 19.4% | +20.5% |
| 2009 | 15.7% | -19.3% |
| 2010 | 16.6% | +5.9% |
| 2011 | 13.9% | -16.2% |
| 2012 | 15.2% | +9.3% |
| 2013 | 54.0% | +255.2% |
| 2014 | 23.9% | -55.7% |
| 2015 | 13.3% | -44.6% |
| 2016 | 15.7% | +18.8% |
| 2017 | 10.7% | -32.2% |
| 2018 | 10.6% | -1.0% |
| 2019 | 8.5% | -19.8% |
| 2020 | 9.4% | +10.4% |
| 2021 | 12.1% | +29.3% |
| 2022 | 28.2% | +132.8% |
| 2023 | 40.1% | +42.3% |
| 2024 | 25.9% | -35.5% |
| 2025 | 14.4% | -44.2% |
Ghana compared with similar countries
- Ghana's 14.4% is above the median for lower middle income countries, which is 5.0%, 2.9× the median. (47 countries reporting)
- Ghana's 14.4% is above the median for Sub-Saharan Africa, which is 4.3%, 3.3× the median. (48 countries reporting)
Biggest year-on-year movements
Years where Inflation, GDP deflator (annual %) in Ghana changed far more than this series normally does. A large move can be a real event or a change in how the figure was measured — the source note below says who published it.
| Year | Change | From | To |
|---|---|---|---|
| 2006 | +465.9% | 15.0% | 84.7% |
| 1968 | +425.3% | -3.9% | 12.6% |
Averages by decade
| Decade | Average | Lowest | Highest | Years |
|---|---|---|---|---|
| 1960s | 7.4% | -3.9% | 17.0% | 9 |
| 1970s | 30.5% | 2.9% | 73.3% | 10 |
| 1980s | 47.6% | 20.6% | 123.1% | 10 |
| 1990s | 25.8% | 11.2% | 43.0% | 10 |
| 2000s | 27.9% | 14.4% | 84.7% | 10 |
| 2010s | 18.2% | 8.5% | 54.0% | 10 |
| 2020s | 21.7% | 9.4% | 40.1% | 6 |
Countries ranked near Ghana
More economy & growth data for Ghana
- Africa's Development Dynamics (AfDD) Table 04 - Annual real GDP 3.15 Percent per annum (2029)
- Africa's Development Dynamics (AfDD) Table 02 - Annual real GDP 5 Percent per annum (2029)
- SDRs holdings, US dollar, annual growth rate 457.43 % change on previous year (2025)
- SDRs holdings, US dollar, per unit of GDP 0.0001 units per US$ of GDP (2025)
- SDRs holdings, US dollar, per capita 0.374 units per person (2025)
- SDRs holdings, SDR, annual growth rate 430.83 % change on previous year (2025)
- SDRs holdings, SDR, per unit of GDP 0.0001 units per US$ of GDP (2025)
- SDRs holdings, SDR, per capita 0.2731 units per person (2025)
- IMF holdings of currency, US dollar, annual growth rate 5.01 % change on previous year (2025)
- IMF holdings of currency, US dollar, per unit of GDP 0.0077 units per US$ of GDP (2025)
Frequently asked questions
- What is inflation, gdp deflator in Ghana?
- Inflation, gdp deflator in Ghana was 14.4% in 2025, according to Country official statistics, National Statistical Offices (NSOs).
- What is the highest inflation, gdp deflator recorded in Ghana?
- The highest recorded value was 123.1% in 1983.
- What is the lowest inflation, gdp deflator recorded in Ghana?
- The lowest recorded value was -3.9% in 1967.
- How does Ghana rank for inflation, gdp deflator?
- Ghana ranks 21st out of 214 countries with data for 2025.
- Is inflation, gdp deflator rising or falling in Ghana?
- Over the last ten years it is up 8.9%. The long-run trend across the full record is volatile.
- Where does this Ghana data come from?
- The figures come from Country official statistics, National Statistical Offices (NSOs), published as part of Inflation, GDP deflator (annual %). Statizoid updates them automatically from the source API.
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About this data
Inflation as measured by the annual growth rate of the GDP implicit deflator shows the rate of price change in the economy as a whole. The GDP implicit deflator is the ratio of GDP in current local currency to GDP in constant local currency.