Inflation for September 2024 has risen to 21.5%, up from 20.4% in August, primarily driven by a significant increase in food prices.
Food inflation surged to 22.1%, compared to 19.1% in August, reversing a five-month downward trend. In contrast, non-food inflation experienced a slight decrease, falling to 20.9% from 21.5% in the previous month.
During the announcement of the latest figures, Government Statistician Samuel Kobina Anim highlighted ongoing risks despite recent improvements.
“The 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.
The report highlighted inflation increases for both locally produced and imported items.
Inflation for imported goods rose to 17.0% in September, up from 16.1% in August, while locally produced goods saw a jump to 23.4%, compared to 22.2% the previous month.
Among the sectors, restaurants and accommodation services recorded the highest inflation at 27.9%, followed closely by alcoholic beverages, tobacco, and narcotics at 27.6%.
Housing, water, electricity, gas, and other fuels registered 26.4% inflation, while education services reached 23.7%.
Health services reported an inflation rate of 22.3%, while food and non-alcoholic beverages reached 22.1%, both exceeding the overall inflation rate of 21.5%.
The government aims to reduce inflation to 15% by the end of the year, but the recent increase indicates potential challenges ahead.
