Ghana inflation rate for October falls to 15.8%

The year-on-year inflation rate fell to 15.8 per cent in October, down from 17.2 per cent recorded in September, Mr Baah Wadieh, Deputy Government Statistician, said on Wednesday.

The monthly change rate for October was 1.4 per cent compared to the 0.2 per cent for September.

Mr Wadieh said the non-food group recorded a year-on-year inflation rate of 19.4 per cent in October compared to 21.6 per cent in September, while the year-on-year food inflation rate for October was 8.7 per cent compared with the 9.0 per cent recorded in September.

The main drivers for the non-food inflation rate are transport, housing, electricity, gas and fuels, education and recreation and culture, while that of the food inflation include meat and meat products, coffee, tea and cocoa, oils and fats, fruits, mineral water, soft drinks, fruits and vegetable juices.

At the regional level, Greater Accra and Ashanti Regions recorded inflation rates higher than the national average of 15.8 per cent.

The Greater Accra Region recorded the highest inflation rate of 18.7 per cent followed by the Ashanti Region with 16.3 per cent, while the Central Region recorded the lowest of 12.9 per cent.

Source: GNA