Inflation rises to 21.5% in September, driven by food prices

Inflation for September 2024 has climbed to 21.5%, up from 20.4% recorded in August, largely due to a surge in food prices.
Food inflation rose sharply to 22.1% from August's 19.1%, reversing a five-month downward trend.
In contrast, non-food inflation saw a slight decrease, falling to 20.9% from 21.5% in the previous month.
Announcing the latest figures, Government Statistician Samuel Kobina Anim 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,” he said.
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.
Trending Business
Central Regional fishermen demand immediate reintroduction of closed fishing season
02:21Global lithium prices collapse prompt gov't to reassess Ewoyaa Lithium project
02:04E&P and Azumah Resources dispute poses economic, legal and political risks - Minority
01:23SSNIT, employers call for stronger collaboration to sustain pension scheme
14:30We inherited over US$ 1.7 billion debt owed to IPPs: Energy Minister
00:56Mahama pledges 70% world market price for Cocoa farmers
13:18Gov't starts collection of 'D-Levy' today
08:52Influx of unapproved meters affecting revenue of utility companies-PURC
11:29NPA, Acting CJ allies to tackle illegalities in petroleum sector
09:05Energy Ministry backs nationwide biogas project for SHSs
13:35