Ghana\u2019s annual inflation rate jumped to a four-month high in October, reducing the chances of another interest-rate cut later this month.<\/p>\n Consumer prices rose 22.1% from 21.5% in September, Government Statistician Samuel Kobina Annim, told reporters in the capital, Accra, on November 6, 2024.<\/p>\n In September 2024, the rise in inflation was attributed to the increase in food inflation as it surged from 19.1% in August to 22.1%.<\/p>\n But non-food inflation declined to 20.9 per cent from 21.5 percent in August 2024.<\/p>\n Inflation had seen a downward spiral to reach 20.4% for five months from the over 50% recorded in 2022.<\/p>\n The GSS noted that inflation on locally produced items and imported items increased.<\/p>\n Subsequently, the figure for imported items increased to 17.0 percent from 16.1 percent in August, whereas locally produced items recorded inflation of 23.4 percent from 22.2 percent in August 2024.<\/p>\n Restaurants and accommodation services recorded 27.9 percent, while Alcoholic beverages, tobacco and narcotics recorded 27.6 percent.<\/p>\n SSD\/MA<\/p>\n Watch the latest edition of BizTech below:<\/b><\/p>\n![\"Food](\"https:\/\/cdn.ghanaweb.com\/imagelib\/pics\/279\/27976857.295.jpg\" "\\"Food")
play video<\/span>Food inflation recorded a surge in October this year<\/span><\/span><\/p>\n<\/div>\n