Inflation declines for third consecutive time to 35.2% for October 2023

Ghana’s monthly inflation declined for a third consecutive time from 38.1 percent recorded in September to 35.2 percent in October 2023.

Recent figures released by the Ghana Statistical Service attributed the development to the marginal drop in food inflation.

Government Statistician, Professor Kobina Annim said food inflation in the period was pegged at 44.8 percent, while non-food inflation was 27.7 percent.

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In addition to the figures, inflation for locally produced items was pegged at 34.4 percent while imported items stood at 34.4 percent from an earlier 37.4 percent in September 2023.

CPI measures the changes in the price of a fixed basket of goods and services purchased by households — with the assumption that households purchase a basket of goods and services monthly, hence price changes occur monthly.



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