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‘Government to blame monkeypox for record spike in inflation’ – Isaac Adongo asserts

Hon Isaac Adongo?resize=640%2C400&ssl=1 Deputy Ranking Member of Parliament's Finance Committee, Isaac Adongo

Thu, 9 Jun 2022 Source: www.ghanaweb.com

Ghana’s inflation for May hits 27.6%, GSS

Significant fiscal action required to address soaring inflation, Adongo

BoG hikes policy rate to 19% in May


Deputy Ranking Member of Parliament’s Finance Committee, Isaac Adongo, has averred that government would soon attribute the surge in the country's inflation to the outbreak of monkeypox.

His comment comes after government had earlier blamed the global pandemic - COVID-19 and the Russia-Ukraine war as reasons for the wobbling economy currently.

The Ghana Statistical Service on Wednesday, June 8 announced that inflation for May hit 27.6 percent.

This represents a four percentage points increase compared to the 23.6 percent recorded in April 2022.

Reacting to the development in Facebook post sighted by GhanaWeb, the Bolga Central lawmaker chided government over its decision to increase the monetary policy rate in a move to stem down inflation.

He opined that the persistent surge in inflation is rather being caused by supply driven costs.

"Without a significant complementary fiscal action, not much will be achieved. I'm waiting to hear Dr Bawumia shout 'For the first time in 18 years, we have achieved [the] highest inflation of 27.6%," Isaac Adongo added.

“Government would soon add monkeypox to COVID-19 and Russia-Ukraine war as reasons for the 18-year high inflation to complete its monkey tricks,” the lawmaker predicted.



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Source: www.ghanaweb.com
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