Ghana inflation rate reaches 14-month high of 10.6% in September

Year-on-year inflation rate rose to 10.6 per cent in September, the highest in the last 14 months, the Ghana Statistical Service said on Wednesday.

“This means that in the month of September 2021 the general price level was 10.6 per cent higher
than in September 2020,” Professor Kobina Annim, the Government Statistician said at a press conference.

Month-on-month inflation between August 2021 and September 2021 was 0.6 per cent.

The Year-on-year variation between food 11.5 per cent and non-food inflation 9.9 per cent was 1.6 per cent.

Month-on-month food inflation this month was again less than non-food inflation by 1.2 percentage points.

Housing, Water, Electricity, Gas and Other Fuels continue to be the leading Division driving Inflation, recording 18.7 per cent this month, though lower than the 12 months rolling average.

” Inflation for September 2021 indicates that food contribution to overall inflation has declined, contributing less than half to overall inflation,” Prof. Annim said.

Inflation for locally produced items continue to dominate imported items while inflation for imported items remains stagnant.

Regional inflation was between 16.8 per cent in Upper West region and 2.7 per cent in the Eastern Region.

Source: GNA