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Food price increments push inflation to 21.5%

October 2, 2024
in News
Food price increments push inflation to 21.5%

Inflation

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Ghana has seen a marginal rise in inflation for the month of September to 21.5 percent.

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The rise in inflation has been attributed to the increase in food inflation.

In the month of August, Ghana’s inflation stood at 20.4.

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Food inflation surged to 22.1 percent from 19.1 in August 2024. However, non-food inflation declined to 20.9 percent from 21.5 percent in August 2024.

Government has targeted to end the year with an inflation target of 15%.

Inflation has been on the downward trend for five months running but government statistician, Prof. Samuel Kobina Anim while announcing this latest uptick suggested that there a still upside risks.

“This five-month successive decrease in the rate of inflation has been reversed in the month of September with food recording a higher rate,” he said.

Among the sectors, restaurants and accommodation services registered the highest inflation at 27.9 percent, followed closely by alcoholic beverages, tobacco, and narcotics at 27.6 percent.

Housing, water, electricity, gas, and other fuels recorded 26.4 percent inflation, while education services reached 23.7 percent.

Health services reported 22.3 percent inflation, and food and non-alcoholic beverages stood at 22.1 percent.

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