Ghanaians to pay more for goods, services as inflation hits 37.2% in Sept

Ghanaians have no choice but to pay more for goods and services, as the country’s inflation rate keeps soaring.

There is currently no end in sight with the inflation rate, which keeps defying measures put in place by government.

The rate has moved from 33.9 percent in August 2022 to 37.2 percent in September 2022.

This new figure was released by the Ghana Statistical Service (GSS) on October 12, 2022.

This is a 2.0 percent month-on-month increase from the 33.9 percent rate recorded in August 2022.

However, the rate is also 37.2% higher than that of September 2021.

Year-on-Year inflation varied upwardly by 2.2 percentage points between August (31.7%) and September (33.9%) 2022.

Food inflation was 37.8% while non-food inflation was 36.8%.

Inflation for locally produced items was 35.8% while inflation for imported items was 40.7%.

Western Region recorded the highest food inflation (47.0%) and Eastern Region, the highest non-food inflation (42.0%). Eastern Region recorded the overall highest inflation (41.0%) followed closely by Western Region (40.2%) and Greater Accra Region (39.3%).

Transport (68.7%) recorded the highest rate of inflation in the Eastern Region, for food inflation in the Western Region, Fish and Other Seafood had the highest rate of inflation at 64.0%.

More than 90 percent of the sampled items recorded an increase in price.

Source: Citi newsroom