Increase in food prices push October inflation to 40.4 %

The Year on year Inflation rate for the month of October has reached 40.4% at the back of increase in food prices.

Food inflation recorded the highest rate among all the components as against non food inflation according to the Ghana Statistical Service.

The increase by food inflation indicates a jump of more than 3 percent from the previous rate of 37.2.

Addressing the media, Government Statistician,  Professor Samuel Kobina Annim explained that all items in the component for calculating the rate of inflation recorded an increase.

“For the month of October, Food inflation was 43.7%. Last month’s Food inflation was 37.8%. A careful study of the figures show that month-on-month Food inflation was 3.2%.” he said.

Source: Ghana News