Ghana Statistical Service reported its inflation rate rose to 40.4% for the month of October 2022 as the cost of goods and services continue to surge in the West African nation.
The inflation rate in Ghana for the month of September was 37.2% suggesting the country’s economy battered by currency depreciation and fiscal challenges is not going away any time soon.
On a month-on-month basis inflation rate was 2.7% for the month under review compared to 2% in September 2022.
Other data: Food inflation for the month under review rose 43.7% year on year compared to 37.8% the month before
Inflation drivers: A cursory review of the data also reveals Ghanaians are experiencing higher inflation rates for housing, water, electricity, gas, and other fuels.
Relevance for Nigeria: Africa’s largest economy, Nigeria, is also experiencing galloping inflation currently at about 20.7% year on year.
In order to provide you with the best online experience this website uses cookies.
By using our website, you agree to our use of cookies. Learn more
Cookies are short reports that are sent and stored on the hard drive of the user’s computer through your browser when it connects to a web. Cookies can be used to collect and store user data while connected to provide you the requested services and sometimes tend not to keep. Cookies can be themselves or others.
There are several types of cookies:
So when you access our website, in compliance with Article 22 of Law 34/2002 of the Information Society Services, in the analytical cookies treatment, we have requested your consent to their use. All of this is to improve our services. We use Google Analytics to collect anonymous statistical information such as the number of visitors to our site. Cookies added by Google Analytics are governed by the privacy policies of Google Analytics. If you want you can disable cookies from Google Analytics.
However, please note that you can enable or disable cookies by following the instructions of your browser.
Copyright © 2021 AM Investor Services SPRL. All Rights Reserved.
Subscribe to our Newsletter
Get the latest insights, stories and trends straight to your inbox.
