30

People will be forced to 'fast' due to high food prices in Ghana – Joe Jackson

Joe Jackson Dalex Boss  Financial analyst with Dalex Finance, Joe Jackson

Tue, 17 May 2022 Source: www.ghanaweb.com

Food a main driver of inflation

High food prices: Vulnerable, poor most affected, Financial analyst

Inflation for April rises to 23.6%

Financial analyst with Dalex Finance, Joe Jackson, has bemoaned the rate at which prices of food commodities keep shooting up.

According to him, the poor and vulnerable in society are the most affected during this time.

This, he asserted, will force these vulnerable and poor to skip meals because they cannot afford them.

Speaking on News at 10 on TV3 Monday, May 16, 2022, Joe Jackson said, “One of the things you have to realize is that when you listen to the Ghana Statistical Service (GSS) they will tell you that the highest inflation occurred in the prices of food....That is why people are worried or thinking we may be heading to a crisis because the price of food, when it is going so high hit most vulnerable in the society very hard."

“The poor and vulnerable are going to be hit very hard and the fear is that we are going to a place where food prices are so high and people skipping meals because they can’t afford it,” he added.

The Consumer Price Index (CPI) data released by the Ghana Statistical Service has revealed that the national year-on-year inflation for April 2022 has shot up to 23.6 percent.

The release explained that this was caused by the continuous increase in food and transport prices across the country.

The rate is 4.2 percentage points higher than the 19.4% recorded in March 2022.

Source: www.ghanaweb.com