Inflation rate for October 2023 drops to 35.2%

The year-on-year consumer inflation rate for October 2023 has slowed to 35.2% from 38.1% in September, the Ghana Statistical Service (GSS) said on Tuesday (14 November).

This means that in the month of October 2023 the general price level was 35.2% higher than October 2022

According the GSS, the decrease can be attributed to the marginal drop in food inflation for the period under review. Food inflation was 44.8%, while non-food was 27.7%

Inflation for locally produced items was 34.4% while imported items was at 34.4 from 37.4% in last month.

Eastern Region recorded the highest rate of food inflation (65.3%) while Upper East region recorded the lowest rate of inflation (24.8%).