Adnan Adams Mohammed
Food prices inflation rose sharply to 22.1 percent in September from Augusts’ 19.1 percent, reversing a five-month downward trend, the Ghana Statistical Service has reported.
This pushed September 2024 inflation up to 21.5% from 20.4% recorded in August.
However, non-food inflation saw a slight decrease, falling to 20.9% from 21.5% in the previous month. Announcing the latest figures, Government Statistician pointed to ongoing risks, despite recent progress.
“The five-month successive decrease in the rate of inflation has been reversed in the month of September, with food recording a higher rate,” Prof Samuel Kobina Anim said last week during a press conference in Accra.
The report highlighted inflation increases for both locally produced and imported items. Inflation for imported goods rose to 17.0% in September, up from 16.1% in August, while locally produced goods saw a jump to 23.4%, compared to 22.2% the previous month.
Among the sectors, restaurants and accommodation services recorded the highest inflation at 27.9%, followed closely by alcoholic beverages, tobacco, and narcotics at 27.6%.
Housing, water, electricity, gas, and other fuels registered 26.4% inflation, while education services reached 23.7%.
Health services reported 22.3% inflation, and food and non-alcoholic beverages stood at 22.1%, all exceeding the overall inflation rate of 21.5%.
The government aims to bring inflation down to 15% by the end of the year, but the recent rise signals potential challenges ahead.
