Inflation Rises for First Time in Five Months

Ghana has recorded the highest inflation rate for the first time in five months at 22.1%, according to data from the Ghana Statistical Service (GSS).

This rate is a surge of 0.9% from the previous month at 21.5%.

The data also showed food inflation rising to 22.8% from 22.1% in September while non-food inflation recorded 21.5% from 20.9% in September.

Inflation for locally produced goods was 24.6% with inflation for imported goods at 16.3%, per the data.

Alcoholic beverages, tobacco and narcotics; Housing, water, electricity, gas and other fuels; Restaurants and accommodation services; health; and Food and Non-alcoholic beverages drove the October inflation, according to the GSS.

Meanwhile, regionally, the highest inflation rate was recorded in the Upper East Region at 42% followed by Savannah at 34.7% and Upper West at 34%. The lowest inflation rate was recorded in the Eastern Region at 18.3%.

The last highest inflation before the October inflation rate was recorded in April 2024 at a rate of 25%.

Source: opemsuo.com/Hajara Fuseini