October Inflation climbs to 22.1%, marking second consecutive rise

In October 2024, Ghana's inflation rate increased to 22.1%, up from 21.5% in September, marking a second consecutive monthly rise after a period of decline.

This increase was driven by both food and non-food inflation, with food inflation rising from 22.1% to 22.8% and non-food inflation from 20.9% to 21.5%.

Local items saw a rise in inflation to 24.6%, while inflation for imported goods dropped slightly to 16.3%.

Despite the government’s year-end inflation target of 15%, achieving this goal remains challenging due to ongoing inflationary pressures.