Prices of locally produced coarse grains increased further in October. Prices of maize, sorghum and millet were up to 45, 115 and 140 percent, respectively, above their year-earlier levels. In spite of an above-average cereal output in 2021, food inflation reached a new record high of 43.7 percent year-on-year in October 2022, following sustained increases since June 2021, amid strong export demand from neighbouring countries and a weak national currency. The depreciation of Ghanaian cedi, that was equivalent to GHS 11.8/USD 1 in October 2022 compared to GHS 5.88/USD 1 in October 2021, has increased the cost of imported goods. This has been compounded by increased international prices of food, fuel and fertilizers, exacerbated by the war in Ukraine, adding further pressure on domestic food prices.