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October’s inflation rate was the highest since June
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ACCRA (Reuters) – 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.
Also Read: Ghana’s wildcat gold mining booms, poisoning people and nature
The cocoa-, gold- and oil-producing West African country 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.
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