APA – Accra (Ghana)
The Government Statistician, Prof. Samuel K. Annim, has announced that Ghana’s inflation rate dropped for the third con¬secutive months to 35.2 per cent in October, down from at 38.1 per cent in September this year.
Prof. Annim told a news conference on Tuesday in Accra that the October 2023 inflation rate represented a decrease of 2.9 percent relative to the figure re¬corded in September this year.
He attributed the drop in infla¬tion to the “Sharper drop in food inflation in October 2023”.
According to him, on month-on-month basis, inflation fell to 1.6 per cent in October 2023 from 1.9 per cent in September 2023, representing a decrease of 1.3 percentage points.
He added that Year-on-year inflation for October 2023 was 35.2 per cent, representing 2.9 percentage points lower than the rate recorded in September 2023 which was 38.1 per cent.
Prof Annim said that notable disparities were observed in the inflation rates between food and non-food items.
While food inflation stood at 44.8 per cent, showing a reduction of 4.6 percentage points from September, non-food inflation decreased by 1.6 percentage points to 27.7 per cent.
Local media reports said that locally imported items experienced an inflation rate of 34.4 per cent, which was 2.6 percentage points lower than imported items, registering 37.0 per cent.
On the regional inflation rate, he said that the North East Region recorded the highest inflation rate of 47.5 per cent, followed by the Eastern Region with 46.6 per cent and Western Region recording 46.0 per cent.
GIK/APA
Ghana’s inflation dips to 35.2% in October
