October inflation hits 40.4%

Ghana’s inflation rate has jumped to 40.4 per cent for the month of October 2022.

Month-on-month inflation between September and October 2022 was 2.7%, Government Statistician, Professor Samuel Kobina Anim told reporters in Accra.

This was triggered by the continuous increases in prices of food, housing, transport, water, electricity, gas and other fuels among others.

The new rate was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, October 9, 2022.

Per the data, food and non-food inflation rose to hit 43.7 per cent and 37.8 per cent respectively.

Inflation for locally produced items was 39.1% while that of imported items hit 43.7%.

Source: Ghana/Starrfm.com.gh/103.5 Fm