Ghana's Inflation Surges to 40.4% in October 2022.

Ghana's Inflation Surges to 40.4% in October 2022.

The persistent rise in the costs of food, housing, transportation, water, power, gas, and other fuels have contributed to Ghana's inflation rate reaching 40.4% for the month of October 2022.

The figures for the Consumer Price Index (CPI) were made available by the Ghana Statistical Service (GSS) on Wednesday, October 9, 2022.

According to the findings, the inflation rate for both food and non-food items shot up to 43.7% and 37.8%, respectively.

Also Read: Inflation in Ghana is more domestic driven - IMF.

According to Professor Samuel Kobina Anim, the Government Statistician, it was revealed that the Eastern Region had the most inflation among the 16 regions of the country at 51.1%, with the Central Region registering the highest food inflation at 57.9%.

The October 2022 inflation rate of 40.4% was 3.2% higher than the September 2022 figure of 37.2%.