Accra, Ghana//-Ghana’s year-on-year inflation shot up by 3.3% to 37.2% in the month of September 2022 against 33.9% recorded in August 2022, the Ghana Statistical Service (GSS) has revealed.
Five groups according to the GSS recorded inflation rates higher than the national average in September.
They are- Housing, Water, Electricity, Gas and Other fuels (68.8%); Furnishings, Household Equipment and Routine Household Maintenance (51.1%); Transport (48.6%); Personal Care, Social Protection and Miscellaneous Goods and Services (42.6%) as well as Food and Non-Alcoholic Beverages (37.8%).
The implementation of the utility tariff in September 2022 influenced the surge in inflation in Housing, Water, Electricity and other Fuels group, Professor Samuel Kobina Annim, Government Statistician told journalists in Accra today.
Before the announcement of the September 2022 inflation, the Bank of Ghana (BoG) had adjusted its policy rate to 24.5% to help curtail the rising inflation in the West African country.
The September Consumer Price Index (CPI) indicated that food inflation for the month of September was 37.8%, while Non-food Inflation was 36.8%.
It noted that inflation for locally produced items hit 35.8%, whereas that of imported items was 40.7%.
Focusing on food inflation on a year-on-year basis (37.8%) for September 2022, 10 subclasses recorded higher rates. This was distantly led by Water (58.9%) followed by Milk, Other Dairy Products and Eggs (49.0%) and Sugar Confectionery and Desserts(48.0%).
For the regional inflation, the CPI report revealed that the Eastern Region recorded 47.1% of inflation as the region with the highest inflation. It is followed by the Greater Accra (45.3%) and Central regions (41.9%), while the Upper West Region recorded the lowest inflation of 22.9% in the month of September 2022.
