The Government Statistician, Professor Samuel Annim, has announced that Ghana’s year-on-year inflation rose to 40.4 per cent in October, up from 37.2 per cent in September 2022.
Professor Annim said on Wednesday in Accra that the general price level in October 2022 was 40.4% higher than in October 2021.
He explained that October’s inflation rate was mainly driven by housing, water, electricity, gas and other fuels; furnishings, household equipment and routine household maintenance; transport; personal care, social protection and miscellaneous goods and services as well as Food and non-alcoholic beverages.
Prof Annim added housing, water, electricity, gas and other fuels recorded an inflation rate of 69.6 per cent; furnishings, household equipment and routine household maintenance recorded an inflation rate of 55.7 per cent; transport recorded an inflation rate of 46.3 per cent; personal care, social protection and miscellaneous goods and services recorded an inflation rate of 45.5 per cent.
According to local media reports on Wednesday, food-price increased to 43.7% from 37.8% in September, and non-food inflation rose to 37.8% from 36.8% after a month of rapid cedi depreciation, while the Eastern region (51.1 per cent) maintained the lead as the region with the highest inflation and was followed by the Greater Accra region (49.1 per cent) and the Savannah region (47.6 per cent) in that order.
GIK/APA