Ghana inflation rises for second month in October

Ghana inflation rises for second month in October

Business

October's inflation rate was the highest since June

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ACCRA (Reuters) - Ghana's consumer inflation rose for the second month in a row in October, to 22.1% year on year from 21.5% in September, the statistics service said on Wednesday.

Government statistician Samuel Kobina Annim told a news conference that both food and non-food inflation had quickened last month.

"Three divisions - food and non alcoholic beverages, housing, water and fuel, and transport - contributed about two-thirds of the overall rate of inflation for October," Annim said.

October's inflation rate was the highest since June.

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The cocoa-, gold- and oil-producing West African country has been battling to emerge from its worst economic crisis in a generation.

Last month Ghana's debt-restructuring process neared completion, after investors approved an overhaul of $13 billion worth of international bonds.

It also reached an agreement with the International Monetary Fund on a third review of its $3 billion loan programme.