The inflation rate in Ghana has dropped for the third consecutive time, with the latest recorded rate being 35.2% in October. This represents a decrease of 2.9 percentage points from the rate recorded in September, which was 38.1%.
The Consumer Price Index (CPI) data, released by the Ghana Statistical Service on November 14, shows that food inflation stood at 44.8%, while non-food inflation stood at 27.7%.
This release of data is particularly important as Finance Minister Ken Ofori-Atta is scheduled to present the 2024 Budget Statement and Economic Policy to Parliament on November 15. Prof. Samuel Kobina Annim, the Government Statistician, highlighted the decline in inflation as a positive development.
