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Rise In Food Prices,Others Push October Inflation To 40.4%

Source the Ghana Report

Increases in food prices, housing, electricity and fuel pushed inflation rate for the month of October to 40.4 percent.

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

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

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.

He explained that non-food Inflation for October was at 37.8% compared to the previous month’s non-food inflation of 36.8% .

He 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.

 

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