October Inflation Increases To 22.1%

Prof. Samuel Annim

Inflation for October 2024 increased marginally to 22.1% from the 21.5% recorded in September 2024, the Ghana Statistical Service (GSS) has said.

According to the GSS, food and non-food inflation went up by 22.8 and 21.5% respectively.

Also, locally produced items went up to 24.6% compared to the 23.4% recorded in September while imported items saw a drop to 16.3% compared to the 17.0% recorded in October, 2024.

Addressing journalists, Government Statistician, Prof. Samuel Annim explained that the 22.1% that has been recorded for the month of October 2024 is a 0.6 percentage point increase relative to the year on year inflation that was recorded for September 2024.

“Desegregating overall rate of inflation from your food and non-food perspective, we did record 22.8% for food inflation and 21.5% for non-food inflation for the month of October 2024,” he said.

He pointed out that food inflation has increased by 0.7 percentage point recording 22.1% in September 2024 and increasing to 22.8% for October 2024.

“Non-food inflation has also increased by 0.6 percentage point, increasing from 20.9% for the month of September 2024 to 21.5% for the month of October 2024,” he added.

A Business Desk Report

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