Ghana's Inflation Rises in October

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

Government statistician Samuel Kobina Annim announced at a news conference that both food and non-food inflation 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 stated.

October's inflation rate marks the highest level since June.

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

In recent news, Ghana's debt-restructuring process neared completion, with investors approving an overhaul of $13 billion worth of international bonds. Additionally, a deal was reached with the International Monetary Fund regarding a third review of its $3 billion loan programme.