• Ghana has recorded the highest inflation rate since the COVID-19 pandemic
• September 2021 recorded a 10.6% inflation rate
• This is a result of a price hike in housing, water, electricity, gas and other fuels
The Ghana Statistical Service (GSS) has said the inflation rate for the country in the month of September 2021 recorded 10.6 percent.
The high figure according to the Service was based on a surge in prices of utilities such as housing, water, electricity, Gas and other fuels recording high inflation rate of 18.7 percent.
The GSS said the month-on-month inflation between August and September 2021 recorded was 0.6 percent which was 0.3 percentage points higher than the figure recorded in August 2021.
“Food inflation (11.5%) in September 2021 was higher than last month (10.9%) and just above the average of the previous 12 months (10.4%). Food inflation contribution to total inflation dropped from 50.2% last month to 48.6% in September 2021.”
“Overall month-on-month food inflation was 0.0%. Vegetables, coffee and coffee substitutes, and cereal products were the only subclass that recorded a negative month-on-month inflation. For non-food, year-on-year inflation on average went up this month compared to last month. It went up to 9.9% from 8.7%,” the GSS pointed.
Meanwhile, at the regional level, overall year-on-year inflation ranged from 2.7 percent in the Eastern Region to 16.8 percent in Upper West Region.
Additionally, Volta Region recorded the highest month-on-month inflation at 3.6 percent while five regions namely; Brong Ahafo, Eastern, Greater Accra, Upper East and Upper West recorded negative month-on-month inflation rates.