Inflation hits 40.4% in October

Inflation hits 40.4% in October

The Consumer Price Inflation (CPI) for October 2022 rose to144.4 relative to 102.9 for October 2021 using the linked series.

This is according to the latest figures released by the Ghana Statistical Service on Wednesday.

Year-on-year inflation rate for October 2022 was 40.4%

Per the figures, for the month of October 2022, the general price level was 40.4% higher than in October 2021.

Month-on-month inflation between September and October 2022 was 2.7%.


Calls for Ofori-Atta, Adu Boahen removal

Several Ghanaians including the majority caucus of Parliament are calling on President Akufo-Addo to dismiss Finance Minister Ken Ofori-Atta and the Minister of State at the Ministry of Finance, Mr. Charles Adu Boahen in the wake of the harsh economic situation.

They share the sentiment Mr. Ofori-Atta has performed abysmally and that removing him will restore confidence in the financial sector.

However, President, Nana Addo Dankwa Akufo-Addo has asked the New Patriotic Party Members of Parliament (MPs) demanding the removal of Ken Ofori-Atta as Finance Minister to hold on till Ghana concludes negotiations with the International Monetary Fund (IMF).

The President says, terminating the appointment of Mr. Ofori-Atta will disrupt the programme.

At a meeting with the aggrieved MPs at the Jubilee House, Nana Akufo-Addo appealed for calm.

By: Bernard Ralph Adams | | Ghana

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