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Nat’l inflation from Oct 2020 to Oct 2021 was 11%

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The national year-on-year inflation rate was 11.0% in October 2021, which is 0.4 percentage points higher than the 10.6% recorded in September 2021, the Ghana Statistical Service (GSS) has announced.

Month-on-month inflation between September and October 2021 was 0.6%, the same as what was recorded in September 2021.

Housing, water, electricity, gas and other fuels recorded the highest inflation (20.6%).

Regional Inflation

At the regional level, the overall year-on-year inflation ranged from 1.9% in the Eastern Region to 19.2% in the Upper West Region.

Upper East Region recorded the highest month on month inflation (1.8%).

Three regions (Greater Accra, Upper West and Eastern) recorded negative month-on-month inflation rates.

Food and Non-Food Inflation

This month food inflation (11.0%) was lower than both last month inflation (11.5%) and the average of the previous 12 months (10.3%).

Food inflation’s contribution to total inflation further dropped from 48.6% last month to 44.9% in October.

Overall month-on-month food inflation was -0.3%, which is lower than the 12-month national average of month-on-month inflation.

Vegetables and fruits and nuts were the subclasses that recorded negative month-on-month inflation.

Thirteen out of the 15 food sub-classes recorded positive year-on-year inflation of max 17.2%.

Non-food year-on-year inflation on average went up again this month compared to last month from 9.9% to 11.0%.

Out of the 12 Non-food Divisions, 10 had higher year-on-year inflation in October 2021 than the rolling average over the last 12 months.

Transport once again recorded the biggest difference in this month’s inflation compared to the 12-month rolling average (14.9% compared to 9.7%).

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