The inflation rate in Ghana rose to 21.5% in September 2024, up from 20.4% in August, largely driven by a surge in food inflation. Food prices saw a significant increase, with inflation jumping to 22.1% compared to 19.1% in August.
Despite this rise, non-food inflation experienced a slight decline, dropping to 20.9% from 21.5% in the previous month. The government is targeting a year-end inflation rate of 15%, but recent data highlights potential challenges.
Professor Samuel Kobina Anim, the government statistician, expressed concern over the reversal of the downward inflation trend, which had been on a decline for five consecutive months. He attributed the September rise mainly to the rapid increase in food prices.
The report also noted inflationary pressures on both locally produced and imported goods. Inflation for imported items increased to 17.0% in September from 16.1% in August, while locally produced goods saw inflation rise to 23.4%, up from 22.2%.
The highest inflation rates for September were seen in specific sectors: restaurants and accommodation services (27.9%), alcoholic beverages, tobacco, and narcotics (27.6%), housing, water, electricity, gas, and other fuels (26.4%), education services (23.7%), and health services (22.3%).
Additionally, the inflation rate for food and non-alcoholic beverages stood at 22.1%, exceeding the overall inflation rate of 21.5%.
SOURCE: https://dew360.net
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