Ghana’s consumer inflation recorded a 0.3 percentage point increase to 5.5 percent in October, up from 5.2 percent in September, according to data released by the Ghana Statistical Service on Wednesday, Nivember 4.
Government Statistician Alhassan Iddrisu, who released the figures during the regular monthly press briefing in Accra, the Ghanaian capital, said the increase in October inflation was driven mainly by non-food inflation.
“Non-food inflation increased by 1.7 percentage points to 7.9 percent in October from 6.2 percent in September, while food inflation declined by 1.2 percentage points to 2.8 percent in October, from 4 percent in September,” Iddrisu said.
Under non-food inflation, he said services inflation increased at the fastest rate at 11.5 percent following the 8 percent increase in transportation fares and 3.4 percent increase in educational cost.
Meanwhile, Inflation for locally produced items and imported items also stood at 6.9 percent and 2.4 percent, respectively.
The Monetary Policy Committee of the Bank of Ghana will meet later this month to take a decision on the position of monetary policy in relation with inflation. Enditem