Ghana's inflation hits 40.4 percent in October, the highest rate in 20 years Increases in food prices; housing, electricity and fuel, and three other divisions pushed inflation for the month of October 2022 to 40.4 %, the Ghana Statistical Service has a

Updated by November ,10, 2022

Increases in food prices; housing, electricity and fuel, and three other divisions pushed inflation for the month of October 2022 to 40.4 %, the Ghana Statistical Service has announced.

The food inflation recorded the highest rate among all the components as against non-food inflation, The increase by food inflation indicates a surge of more than 3% from the previous rate of 37.2%.

Housing, Water, Electricity, Gas and Other Fuels (69.6%); Furnishings, Household Equipment and Routine Household Maintenance (55.7%); Transport (46.3%) and Personal Care, Social Protection and Miscellaneous Goods and Services (45.5%).

Food inflation was 43.7% in the month of October 2022, compared with 37.8% in September 2022.
Eight subclasses in the food inflation group also recorded higher rates. This was distantly led by Water (64.3%) followed by Milk, Other Dairy Products and Eggs (58.9%) and Sugar, Confectionery and desserts (54.6%).

Also in the case of month-on-month food inflation nine subclasses record rates higher than the national average. Milk and Other Dairy Products and Eggs recorded the highest, 7.8%.

Source : Joycelyn Marigold - PE Magazine

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