October Inflation drops from 38.1% to 35.2%

For the third consecutive time, inflation has dropped, recording a rate of 35.2% in October.

This represents a 2.9 percentage point decrease from the 38.1% recorded in September.

The Consumer Price Index (CPI) data released by the Ghana Statistical Service on Tuesday, November 14, shows that food inflation stood at 44.8% and non-food inflation at 27.7%.

This release comes at a crucial time as Finance Minister Ken Ofori-Atta heads to Parliament on Wednesday, November 15, to present the 2024 Budget Statement and Economic Policy.

The Government Statistician, Prof. Samuel Kobina Annim, highlighting the rates stated that the decline in inflation was a positive development.