In October, Inflation Reached 40.4% In Ghana.

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Ghana’s year-over-year inflation increased to 40.4% in October from 37.2% in September, according to the Ghana Statistical Service (GSS).

This indicates that the overall price level was 40.4% higher in October 2022 than it was in October 2021.

Following a month of sharp cedi devaluation, food prices surged to 43.7% from 37.8% in September, while non-food inflation increased to 37.8% from 36.8%.

According to Prof. Annim, the Greater Accra area (49.1%), the Savannah region (47.6%), and the Eastern region (51.1%), in that order, were the regions with the highest inflation rates.

The overall inflation rate is currently four times the Bank of Ghana’s goal range of 6 percent.

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