Inflation rate has surged to 16.5 percent in September, the highest in four years. Inflation rate continues to grow as in the previous month it finished at 15.9 percent, according to Ghana Statistical Service.
Philomena Nyarko, a government official of statistical department, told the sharp raise was observed in non-food inflation with the highest rising in housing, electricity, water, gas and fuels.
Nyarko said during a news conference on Wednesday, “The non-food inflation rate of 24.1 percent is about four times as high as the food inflation rate of 5.8 percent,”
The inflation rate is highest since March 2010.
Inflation rate
Year-on-Year housing, electricity, water, gas and fuel prices recorded the highest increase (63.5 percent), followed by transport hikes (27.1 percent), on the other hand education recorded the lowest raises with 3.5 percent while the food prices rose to 5.8 up from 5.1% recorded in August.
The lowest inflation rate was seen in Upper West region with 10.9% while the Central Region recorded highest rate at 18.5% and the Greater Accra Region reached at the rate of 17.2%.
The inflation rate is facing upward trend since October 2013, unlike the predictions of government which insisted the inflation rate of 13 percent during the last 12 months.
