Ghana’s inflation rate rose in October but is within the central bank’s medium term target of 8±2.
The consumer price inched up to 7.7% in October from 7.6% in September. The 7.6 inflation recorded in September was the lowest since September 2013.
The Government Statistician, attributed the food and non-alcoholic beverages and non-food inflations as the drives for October inflation.
“Food and non-alcoholic beverages remains the driver of inflation, but less than earlier months”, Professor Samuel Kobina Anim noted, adding, “transport contributed the highest increase towards inflation”.
KEY POINTS:
- Food inflation was 7.0%.
- Non-food inflation was 8.2%.
- Inflation for locally produced items was 6.5%.
- Inflation for imported items was 8.9%.
- 3 regions, Greater Accra (11.8%), Central (9.2%) and Volta (8.9%), recorded inflation rates above the national average of 7.7%.
- Upper East region had the lowest year-on-year inflation rate of 3.6%.
