THE YEAR-On-Year Consumer Price Inflation (CPI) for October 2022 has hit 40.4 per cent, according to the Ghana Statistical Service (GSS).
This means that in the month of October 2022 the general price level was 40.4 per cent higher than October 2021.
Month-on-month inflation between September and October 2022 was 2.7 per cent, the GSS added.
Giving a breakdown of the contributors, the GSS said food inflation was 43.7 per cent as against last month’s 37.8 per cent while month-on-month food inflation was 3.2 per cent.
Non-food inflation also rose to 37.8 per cent from the previous month’s 36.8 per cent. Month-on-month Non-Food inflation was 2.3 per cent.
The GSS said inflation for locally produced items was 39.1 per cent while inflation for imported items was 43.7 per cent.
This means the cost of credit is expected to go up further as the Bank of Ghana is set to take a decision on the policy rate – the rate at which it lends to commercial banks- by November 25, 2022.
Addressing the media, Government Statistician, Professor Samuel Kobina Annim, explained that all items in the component for calculating the rate of inflation recorded an increase.
Source: Daily Guide
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Reading all caps is very difficult.
THIS CURRENT AGRIC MIONISTETR IS ***barred word***, CANNOT BLEAD ANYTHING IN GHANA.STOP THESE NONSEN SE OF USING TAXPAYERS' MONEY GIVEN TO YOU BY FINANCE MINISTRY CHASING ON PEASANT FARMERS ***barred word***. THAT EVEN IN DEVELOPED WORLD LIKE CHINA DO NOT OPERATE PEASANT FARMING TO FEED 1.4 BILLION POPULATION AS CHINA BEEN DOING AND HAVE FOOD SECURITY WHILE GHANA HAVE FOOD INFLATION OF 30% AND CANNOT FEED 30MILLION POPULATION THAT IS MAKE SENSE ONLY YOU ARE ISSUING IMPORT LICENSE TO IMPORTER TO IMPORT RICE, WHEAT, CORN, CHICKEN WHICH CAN BE GROWN HERE IN GHANA AS KENYA has BEEN DOING IT INCLUDING NORTH AFRICA COUNTRIES. GHANA DOESN;T NEED USE LESS AGRIC MINISTER SUCH AS THIS. THIS HAVE EASY SOLUTION SO LONG AS WE KEEP IMPORTING ***barred word*** INTO GHANA THE CEDI WILL CONTINUE TO DEPRECIATE. WHY ARE WE IMPORTING RICE INTO GHANA THAT GHANA HAVE FERTILE LAND TO PRODUCE RICE DOES IT MAKE SENSE. WHY WE IMPORT FLOUR WHILES BRASIL, EQYPT GROW WHEAT WHICH GHANA CAN DO SAME ARE WE SERIOUS AS A NATION WHO IS THIS AGRIC MINISTER IS HE SRIOUS AS A LEADER, STOP PEASANT FARMING AND DO COMMERCIAL FARMING ZIMBABWEA USE TO DO COMMERCIAL FARMING AND THEY WERE BREAD BASKET OF SOUTHERN AFRICA UNTI THEIR ***barred word*** LEADER MUGABE STARTED TAKING THE LAND FROM WHITE FARMERS TO THE BLACKS WHO COULDN'T FARM ANYWAY MEANWHILE THESE BLACKS WERE WORKING FOR THESE WHITE FARMERS AT THAT TIME. GOVERNMENT SHOULD PUT HEAVY TARRIFS ON PRODUCTS THAT CAN BE GROWN OR PRODUCE IN GHANA TO STOP THIS ***barred word*** ELSE WE ARE DOOM AS A NATION AND OUR CEDI STRENTH. AGAIN FOREIGNERS WHO DOMINATES OUR MARKETS CANNOT IMPORTS THINGS THAT CAN BE PRODUCE IN GHANA ONLY LAZY PEOPLE OR NATION DOES THAT.