Inflation in Ghana reached 40.4% in October

Ghana’s inflation rate increased from 37.2 percent in September to 40.4 percent in October.

Government statistician for Ghana, Mr. Samuel Annim, made this known in a statement on Wednesday.

The figure implies that the country’s central bank will face further pressure to keep raising borrowing costs, which are already at a five-year high.

The result was higher than the median prediction of 39.5%.

Next Monday, the inflation rate for Nigeria will be made public.