Business

Continuous hikes in food prices push inflation for October to hit 40.4%

Continuous increases in prices of food, housing, transport, water, electricity and other fuels have pushed Ghana’s inflation rate to hit 40.4 percent for the month of October 2022.

This represents a 3.2 percentage point increase over the 37.2 percent recorded in September 2022.

This 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 also rose to hit 43.7 per cent and 37.8 per cent respectively.

The Government Statistician, Professor Samuel Kobina Annim said all items in the component for calculating the rate of inflation recorded an increase.

According to the GSS, the food inflation for October 2022 was 43.7% compared with the September’s food inflation which was at 37.8%

The inflation for locally produced items was 39.1% while inflation for imported items was 43.7%

 

 

 

 

The Government Statistician, Professor Samuel Kobina Anim disclosed that the Eastern Region recorded the highest inflation among the 16 regions of the country 51.1 percent with the Central Region recording the highest food inflation of 57. 9 percent.

 

Source: Ghana Business

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