Eric Boachie Yiadom: Inflation taking natural course
The development finance and economics expert dismisses doubts over Ghana’s improving inflation
Development finance and economics expert Eric Boachie Yiadom has expressed surprise at the scepticism surrounding Ghana’s recent inflation figures, which have shown a fourth consecutive decline.
Yiadom, who was speaking on the Asaase Breakfast Show (ABS) on Thursday (15 August), stated that while the country’s consumer price index slowed from 22.8% in June to 20.9% in July, some people are inexplicably more trusting of last year’s significantly higher figure of 43.1%.
“Some doubt the inflation of 20.9% but rather they trust last year’s inflation of 43.1%,” Yiadom said. “It makes me wonder why would you trust 43.1% and you will not trust 20.9%.”
He explained that the statistical service’s calculations were consistent and that the downward trend indicated positive economic progress.
The development finance and economics expert highlighted the regional breakdown of inflation, with some areas recording rates as low as 10%, as further evidence of the country’s improving economic conditions.
“[The] gentle slope shows that it (inflation) is taking its natural course from the implication or the hike that the country suffered from COVID-19,” he said.
“Some regions are recording as low as about 10% inflation; it points to the fact that the government projection of 15% is within reach.”
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