Ghana’s inflation for October hits 40.4%

The national year-on-year inflation rate was 40.4% in October 2022 which is 3.2 percentage points higher than the recorded 37.2% in September 2022.

According to the Ghana Statistical Service (GSS) the month-on-month inflation between September and October 2022 was 2.7%.

Addressing a press conference in Accra on Wednesday, Government Statistician, Professor Samuel Kobina Annim noted that all items in the component for calculating the rate of inflation recorded an increase.

The food inflation for October 2022 was 43.7% compared with the September’s food inflation which was at 37.8%

While non-food Inflation for October was 37.8% compared with September’s non-inflation which was at 36.8%

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