Prime News Ghana

Inflation for October 2024 rises to 21.5%

By Vincent Ashitey
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Ghana's consumer inflation rose for the second month in a row in October, to 22.1% year on year from 21.5% in September, the statistics service said on Wednesday.

Government statistician Samuel Kobina Annim told a news conference that both food and non-food inflation had quickened last month.

"Three divisions - food and non alcoholic beverages, housing, water and fuel, and transport - contributed about two-thirds of the overall rate of inflation for October," Annim said.

October's inflation rate was the highest since June.

Ghana has been battling to emerge from its worst economic crisis in a generation.

Last month Ghana's debt-restructuring process neared completion, after investors approved an overhaul of $13 billion worth of international bonds.

It also reached an agreement with the International Monetary Fund on a third review of its $3 billion loan programme.