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Inflation rate rises to 40.4 percent in October


The year-on-year inflation rate rose to 40.4 per cent in October from 37.2 per cent in the previous month, the Ghana Statistical Service said on Wednesday.

The month-on-month inflation rate also rose to 2.7 per cent in October from 2.0 per cent in September Prof. Samuel Kobina Annim, the Government Statistician, said the Consumer Price Inflation for October 2022 based on the new series was 144.4 relative to 102.9 for October 2021 using the linked series.

He said food inflation for October increased to 43.7 per cent from the previous month’s food inflation of 37. 8 per cent with the month-on-month food inflation being 3.2 per cent.
The non-food Inflation rose to 37.8 per cent from 36.8 per cent from the previous month. The month-on-month non-food inflation was 2.3 per cent.

Inflation for locally produced items was 39.1 per cent, while inflation for imported items stood at 43.7 per cent.

The Eastern region recorded the highest regional inflation rate of 51.1 per cent, while the Volta region recorded the lowest regional inflation rate of 25.8 per cent.

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