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Inflation Rate Trends and Forecast for Ghana from 1990 to 2029

Inflation Rate Trends and Forecast for Ghana from 1990 to 2029

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TGM StatBox. (2024). Inflation Rate Trends and Forecast for Ghana from 1990 to 2029. TGM StatBox.
Chart Details
Data Source: International Monetary Fund (IMF)
Timeframe: 1990-2029
Country: Ghana
Published date: 2024
Note: The Inflation rate (average consumer prices), as defined by the International Monetary Fund (IMF), measures the annual percentage change in the average level of prices of goods and services consumed by households.
Key Takeaways
Ghana’s inflation has been marked by significant volatility, with rates peaking at 59.3% in 1995 due to fiscal mismanagement and currency depreciation. Recent years have seen a resurgence, with inflation reaching 37.5% in 2023, driven by currency instability and global price pressures.

Projections suggest a decline to 8.0% by 2026, reflecting Ghana’s ongoing efforts to stabilize its economy through structural reforms and monetary policy adjustments. This trajectory highlights the challenges and progress in managing inflation in a developing economy.

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