Minority Leader pegs inflation rate at 60% despite official rate of 40.4%

The Minority Leader Haruna Iddrisu has pegged Ghana’s inflation rate between at 58 to 60 per cent despite the official rate of 40.4 per cent as announced by the Ghana Statistical Service (GSS) on Wednesday November 9.

In his view, the high inflation rate is eroding real income of the people.

“I hear inflation this morning is 40.4 per cent, but I say the unofficial ate is 58 60 per cent. It means real income is eroded. Many Ghanaians can simply not afford the skyrocketing increase cost of living,” he said while speaking at the Political dialogue series organized by Media General on Wednesday November 8.

The Government Statistician Professor Samuel Anim said at a press conference in Accra on Wednesday November 8 that the Year-on-Year Inflation rate for the month of October has reached 40.4% at the back of increase in food prices.

Food inflation recorded the highest rate among all the components as against non food inflation according to the Ghana Statistical Service.

The increase by food inflation indicates a jump of more than 3 percent from the previous rate of 37.2.

By Laud Nartey|3news.com|Ghana