Ghana inflation hits record high 40.4%

The rate of inflation in Ghana increased to 40.4% in October 2022.

According to Professor Samuel Kobina Anim, a government statistician, monthly inflation between September and October 2022 was 2.7%.

This was brought on by the ongoing rises in the cost of things like food, housing, transportation, water, energy, gas, and other fuels.

The Ghana Statistical Service (GSS) published statistics on the Consumer Price Index (CPI) on Wednesday, October 9, 2022, which included the revised rate.

According to the figures, inflation for both food and non-food increased to 43.7 and 37.8 percent, respectively.

The inflation rate for goods made in-country was 39.1%, while it was 43.7% for goods imported.

The diagram below gives highlights of what cause the inflation.

Source: Ghanatodayonline.com/Ellen Asiamah