September 2024 saw an increase in inflation from 20.4 percent in August to 21.5 percent in September 2024. Food inflation has increased, which is the cause of the increase.
August 2024 saw a sharp increase in food inflation, from 19.1% to 22.1%. Nonetheless, from 21.5 percent in August 2024 to 20.9 percent now, non-food inflation decreased.
The goal set by the government is a 15% inflation rate by year’s end.
The government statistician, Prof. Samuel Kobina Anim, stated that there are still dangers to the upside even though inflation has been down for the past five months.
“This 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.
According to the research, prices for both imported and domestically made goods have increased.
September saw an increase in import goods inflation from 16.1% in August to 17.0%. Inflation for locally produced goods increased to 23.4 percent from 22.2 percent in the prior month.
With an inflation rate of 27.9 percent, restaurants and lodging services had the highest rate of any sector. At 27.6 percent, alcoholic beverages, tobacco, and drugs came in second and third.
Inflation for housing, water, electricity, gas and other fuels was 26.4 percent, but it was 23.7 percent for educational services.
Food and nonalcoholic drinks saw inflation of 22.1 percent, while health services reported 22.3 percent.
All of these industries saw higher rates of inflation in September 2024 than the 21.5 percent national average.
Source: Citinewsroom