Political Economist Emmanuel Boamah says Ghana’s current inflation is more than the 41.2% the Ghana Statistical Service has revealed.
Speaking on Ahotor 92.3 Fm‘s morning show ‘Ade Kyi Mu Nsem‘, Mr. Boamah said he believes Ghana’s inflation is over 100% taking the prices of goods and services in the country into consideration.
“What is actually the impact for us when the inflation does down and who is saying the inflation is 41% or 45% when cement was sold at 40GH and the start of the year but now selling at 80 GHC, then the inflation is over 100%,” he told Citizen Kofi Owusu.
The year-on-year consumer inflation slowed, for the fourth consecutive month in April, to 41.2 percent from 45.0 percent in March, the Ghana Statistical Service said on Wednesday.
The 3.8 percentage point drop in the rate was due to a fall in non-food items.
The month-on-month inflation rate between March 2023 and April 2023 was 2.4 percent.
Professor Samuel Kobina Annim, the Government Statistician, said it meant that in the month of April 2023, the general price level was 41.2 percent higher than in April 2022.
The food inflation decreased to 48.7 percent from the previous month’s food inflation of 50.8 percent with the month-on-month food inflation at 4.3 percent.
The non-food inflation for April 2023 decreased to 35.4 percent from 40.6 percent in March 2023.
The month-on-month non-food inflation was 0.7 percent in April.
The Government Statistician said inflation for locally produced items stood at 38.2 percent in April 2023 while inflation for imported items was 43.1 percent.
The Western North region recorded the highest inflation rate of 64.0 percent while the Volta Region has the lowest regional inflation rate of 28.0 percent.
Listen to Emmanuel Boamah below:
Story by: Emmanuel Romeo Tetteh (#RomeoWrites) / Ahotoronline.com
