News coming in indicates that Ghana's Inflation rate for the month of July, 2022 was 31.7%. According to reports, the previous month's(June) inflation rate was at 29.8%. This means prices for goods and services have seen a massive increment in just a month interval.
The report from the Ghana Statistical Service also reveals that the percentage point increase in Non-food inflation (2.1) between June and July 2022 is higher than food inflation (1.6). The percentage point difference between inflation for imported items (33.9%) and locally domestic items (30.9%) was 3%.
All sectors of the Ghanaian economy are being affected with the data from the GSS. The causes of these increase in inflation rate have been tagged on two key occurrences by the government. The first one is the outbreak of corona virus pandemic and the second is the war between Russia and Ukraine.
Some Ghanaians have reacted to this high level of inflation in the country and below are some comments.
It could be seen from the reactions above that most Ghanaians are really disappointed in the Akufo Addo led administration. Others revealed that the Economic management team members who were highly praised for what they can do have failed. Others alleged that the current figures from the GSS may not even show the true figure of inflation.
Tell us what you also think about this.
Source : Tv3 Ghana.
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