The Ghana Statistical Service has revealed concerning news regarding the nation’s economy, announcing that month-on-month inflation between August and September 2024 soared to 2.8 percent.
This significant increase signals growing economic pressures on consumers as the cost of living continues to rise.
In their official release titled September 2024 Consumer Price Index and Inflation, the Service detailed that the Consumer Price Index (CPI) for September 2024 stood at 235.8, compared to 194.2 for September 2023.
Furthermore, the year-on-year rate of inflation for September 2024 reached a staggering 21.5 percent, indicating that the general price level has risen 21.5 percent higher than the same time last year.
These figures underline the challenging economic landscape facing Ghana, as consumers grapple with the implications of inflation on their daily lives.
The increase in inflation rates highlights the urgent need for effective measures to stabilize the economy and alleviate the financial burden on households across the nation.
