Inflation Goes Up Slightly

Year-on-year inflation as measured by the Ghana Statistical Services (GSS) Consumer Price Index (CPI) has hit 15.4% in October.

This represents a 0.5% increase marking a rise in inflation from 14.9% recorded in September.

The surge can be attributed to the non-food component of the basket, which registered 459.89 in October as against 458.56 in previous month.

The food item component of the basket, however, dipped from 364.94 in September 2005 to 362.86 in October owing to the favourable harvest conditions.

Meanwhile, available data released from the GSS indicates that the major contributions to the change in national CPI are the transport and communication commodity group recording a weighted percentage of 6.47, which registered the largest upward effect of the level of the national index.