As expected, Inflation – which is the average change in price of goods and services - shot up by 0.4% to 11% in October 2021.
This was triggered by increase in Transport inflation as a result of rising fuel prices. Indeed, it was actually the item with the highest contribution to the increase in inflation last month.
However, the contribution of food inflation to the overall year-on-year inflation slowed down.
According to the figures from the Ghana Statistical Service, month-on-month inflation between September 2021 and October 2021 was 0.6%.
Food inflation was 11.0%, lower than that of last month (11.5%), whilst non-food inflation was also 11%, higher than September’s 9.9%.
In terms of items that contributed to the increase in inflation, Housing, Water, Electricity and Gas (20%) and Transport were the major contributors. However, the change in transport inflation compared to last month was significant.
Whilst inflation for locally produced items was 11.8%, that of imported items was 8.8%.
Upper West records highest inflation
For the regions, the Upper West region recorded the highest inflation rate of 19.2%. It was followed by the Northern region with inflation rate of 14.9%. The Ashanti and Greater Accra regions which were traditionally the regions with the highest inflation rates registered rates of 13.7% and 12.3% respectively.
Latest Stories
-
Cyber Security Authority issues Public Alert over Easter and Eid al-Fitr season scams
2 mins -
Sandro Tonali charged by FA for alleged betting rules breaches after joining Newcastle
5 mins -
Scancom PLC holds 6th AGM, declares dividend of 17.5 pesewas per share
30 mins -
Former Deputy AG accuses Godfred Dame of unethical legal behaviour
37 mins -
John Kumah goes home on May 18
42 mins -
Tema General Hospital: If a baby died, it wasn’t because of ‘dumsor’ – GHS Accra Director
1 hour -
Afenyo-Markin fetes cast and crew of ‘the gods are not to blame’
1 hour -
‘Dumsor’ to hit parts of Accra and Tema today
1 hour -
Dolly Parton speaks out after Beyoncé reveals she’s covering ‘Jolene’
2 hours -
Energy transition threatens survival of GNPC – PIAC warns
2 hours -
ECG fails to comply with PURC directive to publish ‘Dumsor’ timetable
2 hours -
Tullow, partners affirm commitment to support coastal communities
2 hours -
Creative Addictions: Documentary on drug use among celebrities premieres on Joy News, Joy FM, Joy Prime
2 hours -
‘There is something mysteriously amiss somewhere’ – Gabby Otchere-Darko on ‘dumsor’
3 hours -
Sean ‘Diddy’ Combs: What we know about the accusations against him
3 hours