Inflation for October 2024 has risen slightly to 22.1%, up from 21.5% in September, the Ghana Statistical Service(GSS) has revealed.
This increase reflects pressure across food and non-food sectors, with food inflation climbing to 22.8% and non-food inflation to 21.5%.
Further details show a disparity between locally produced and imported items.
Locally produced goods increased to 24.6% from 23.4% in September, indicating stronger inflationary pressures in domestic markets.
In contrast, imported goods experienced a slight decline in inflation, easing to 16.3% from 17.0%.
Speaking to the press, Government Statistician Prof. Samuel Annim highlighted that the 22.1% inflation rate represents a modest 0.6 percentage point increase over the previous month, reflecting ongoing inflationary trends year-over-year.
“Desegregating overall rate of inflation from your food and non-food perspective, we did record 22.8 per cent for food inflation and 21.5 per cent for non-food inflation for the month of October 2024”.
He pointed out that food inflation has increased by 0.7 percentage points recording 22.1 per cent in September 2024 and increasing to 22.8 per cent for October 2024.
“Non-food inflation has also increased by 0.6 percentage points, increasing from 20.9 per cent for the month of September 2024 to 21.5 per cent for the month of October 2024.