GHANA'S INFLATION RATE IN OCTOBER IS 40.4%

Ghana's inflation rate increased sharply from 37.2 percent in September to a high of 40.4 percent in October.

Mr. Samuel Annim, the government statistician for Ghana, stated this in a statement on Wednesday.

The figure implies that the country's central bank will face 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.