OCTOBER INFLATION DROPS TO 35.2% FROM 38.1%
For the third consecutive time of the country’s history, inflation has dropped, recording a rate of 35.2% in October 2023.
This represents a 2.9 percentage point of decrease from the 38.1% recorded in September 2023.
The Consumer Price Index (CPI) data which was released by the Ghana Statistical Service on Tuesday, November 14, showed that food inflation stood at 44.8% and non-food inflation at 27.7%.
This release comes at a crucial time as Finance Minister Ken Ofori-Atta heads to Parliament tomorrow on Wednesday, November 15, to present the 2024 Budget Statement and Economic Policy.
The Government Statistician, Prof. Samuel Kobina Annim, highlighting the rates stated that the decline in inflation was a positive development.
Prof. Samuel Kobina Annim has further hinted that, the North East Region recorded the highest inflation of 45.7% whiles Eastern Region also recorded the highest food inflation of 65.3%.
