Ghana’s inflation rate ticks up to 22.1% in October

Inflation for October 2024 edged up slightly to 22.1%, compared to 21.5% in September, driven by increases in both food and non-food inflation.

This marks the second consecutive monthly rise following a five-month decline. Food inflation rose from 22.1% to 22.8%, while non-food inflation ticked up from 20.9% to 21.5%.

The government has set a year-end inflation target of 15%, but with only a month left, elevated risks may challenge the achievement of this goal.