The year-on-year inflation rate for October fell slightly to 10.1 per cent compared with 10.4 per cent the previous month.

Month-on-month inflation between September 2020 and October 2020 was 0.2 per cent, predominantly driven by month-on-month food inflation of 0.1 per cent.

The month-on-month the inflation rate of 0.2 per cent indicates that on average prices increase after two consecutive months of decrease.

Professor Samuel Annim, the Government Statistician, said during a virtual press conference that the figures contrasted with the negative month-on-month inflation that was observed in the previous month.

He said, however, the 0.2 per cent was still less than observed either pre-COVID-19 or in the month since COVID-19.

Food inflation was 12.6 per cent compared to 11.2 per cent in September while non-food Inflation was 8.3 per cent slightly lower from September 9.8 with a variation of 4.3 per cent.

The Inflation rate for locally produced items was 12.3 per cent compared with 5.1 per cent for imported items, a difference of 7.1 per cent.

At the regional level, the overall year-on-year inflation ranged from 1.6 per cent in the Upper West Region to 15.2 per cent in the Greater Accra Region.

On average, rural areas showed higher month-on-month inflation of 0.3 per cent but lower year-on-year inflation of 8.8 per cent than urban areas of 0.2 per cent month-on-month and 10.5 per cent year-on-year inflation.

Disclaimer: News Ghana is not responsible for the reportage or opinions of contributors published on the website.

Send your news stories to [email protected] and via WhatsApp on +1-508-812-0505 

For Latest Updates Follow us on Google News
Previous articleBlack Stars gets full squad ahead of Sudan game
Next articlePartey ruled out of AFCON qualifiers
The Ghana news Agency (GNA) was established on March 5, 1957, i.e. on the eve of Ghana's independence and charged with the "dissemination of truthful unbiased news". It was the first news agency to be established in Sub-Saharan Africa. GNA was part of a comprehensive communication policy that sought to harness the information arm of the state to build a viable, united and cohesive nation-state. GNA has therefore been operating in the unique role of mobilizing the citizens for nation building, economic and social development, national unity and integration.


Please enter your comment!
Please enter your name here