<\/p>\n
THE YEAR-On-Year Consumer Price Inflation (CPI) for October 2022 has hit 40.4 per cent, according to the Ghana Statistical Service (GSS).<\/p>\n
This means that in the month of October 2022 the general price level was 40.4 per cent higher than October 2021.<\/p>\n
Month-on-month inflation between September and October 2022 was 2.7 per cent, the GSS added.<\/p>\n
Giving a breakdown of the contributors, the GSS said food inflation was 43.7 per cent as against last month\u2019s 37.8 per cent while month-on-month food inflation was 3.2 per cent.<\/p>\n
Non-food inflation also rose to 37.8 per cent from the previous month\u2019s 36.8 per cent.\u00a0\u00a0 Month-on-month Non-Food inflation was 2.3 per cent.<\/p>\n
The GSS said inflation for locally produced items was 39.1 per cent while inflation for imported items was 43.7 per cent.<\/p>\n
This means the cost of credit is expected to go up further as the Bank of Ghana is set to take a decision on the policy rate \u2013 the rate at which it lends to commercial banks- by November 25, 2022.<\/p>\n
Addressing the media, Government Statistician, Professor Samuel Kobina Annim, explained that all items in the component for calculating the rate of inflation recorded an increase.<\/p>\n
Source: Daily Guide<\/span><\/p>\n \u00a0<\/p>\n \u00a0<\/p>\n Featured Video\n<\/p>\n\n
\n Disclaimer<\/span>: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority.<\/span><\/td>\n<\/tr>\n<\/table>\n