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Extreme inflation and price volatility worsen poverty in Northern Ghana – Mahama

Thu, 19 Jan 2023 Source: Mumuni Yunus

Former President John Mahama has said that poverty in Northern Ghana has worsened due to what he described as “extreme inflation and price volatility”.

The NDC Flagbearer hopeful said Ghana’s economy is in a near state of collapse, indicating that “clearly, the NDC has been a better manager of the economy!”.

Ghana’s inflation has been soaring over the past months, with official inflation for the month of December 2022 hitting a record high of 54.1 percent.

The country’s annual inflation rate accelerated for the 19th straight month to 54.1% in December of 2022, up from 50.3% in November.

This has caused the prices of goods and services to skyrocket over the same period.

The country is also facing a currency depreciation challenge and fuel price hikes with the Ghana Cedis trading to over 10 Cedis to a dollar while a liter of petrol and diesel are selling between 13 and 15 Ghana Cedis.

Former President Mahama says Northern Ghana, the country’s poorest geographical zone is coming out as the worse affected.

“I am back to Accra from a trip to the Savanna, Northern and Upper West Regions – and poverty has worsened due to extreme inflation & price volatility. The economy is in a near state of collapse; clearly, the NDC has been a better manager of the economy!” Mr Mahama wrote on Facebook, Thursday morning.

Source: Mumuni Yunus