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Inflation rate for October 2022 hits 40.4%

Inflation rate

The national year-on-year inflation rate was 40.4% in October 2022 which is 3.2 percentage points higher than the recorded 37.2% in September 2022, the Ghana Statistical Service (GSS) has said.

This means that in the month of October 2022 the general price level was 40.4% higher than October 2021

The month-on-month inflation between September and October 2022 was 2.7%

The Government Statistician, Professor Samuel Kobina Annim said all items in the component for calculating the rate of inflation recorded an increase.

According to the GSS, the food inflation for October 2022 was 43.7% compared with the September’s food inflation which was at 37.8%

Also non-food Inflation for October was 37.8% compared with September’s non-inflation which was at 36.8%

The inflation for locally produced items was 39.1% while inflation for imported items was 43.7%

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