According to the Ghana Statistical Service, inflation (year-over-year) increased dramatically in the month of September, rising by 3.3% to 37.2%.

This is against the 33.9% reported in August 2022.

Food and non-alcoholic beverages were the main contributors to September 2022 inflation, according to the GSS.

The implementation of the utility tariff in September 2022 may also have influenced the surge in inflation.

Prior to the announcement of the September 2022 inflation, the Bank of Ghana adjusted upwards the policy rate to 24.5% to help fight inflation, though some analysts argue the increasing rate of inflation is largely supply driven.

Eastern region (47.1%) maintained its lead as the region with the highest inflation. It was followed by the Greater Accra and Ashanti regions.

The Upper West region recorded the least rate of inflation of (22.9%)