Ghana’s consumer inflation reached 40.4% in October highest since 2001, the Ghana Statistical Service has revealed.
Per the data, food and non-food inflation also rose to hit 43.7 per cent and 37.8 per cent respectively.
Inflation for the month of October was 3.2 per cent more than the 37.2 per cent rate recorded in September 2022.
The continuous increases in prices of food, housing, transport, water, electricity, gas and other fuels are the driving factors pushing inflation high.
Consumer inflation in Ghana climbed to 40.4% annually in Oct0ber from 37.2% in September, according to new figures released by the statistical service.
The Government Statistician, Professor Samuel Kobina Anim disclosed that the Eastern Region recorded the highest inflation among the 16 regions of the country 51.1 percent with the Central Region recording the highest food inflation of 57. 9 percent.
The surge in prices, high cost of living and the steep fall of the Ghanaian cedi sparked street protests in the capital in November.
Consumers are expected to pay more for goods and services as inflation continue to soar. Coupled with other factors, cost of living is going to increase pushing many homes below the poverty line.