<\/p>\n
The Government Statistician, Prof. Samuel Kobina Annim, says it will be out of place to compare Ghana\u2019s inflation rate with other African countries.<\/p>\n
Food inflation rose to 30.1 percent in May 2022, compared to 26.6 percent recorded in April, higher than most African countries.<\/p>\n
The inflation rate in Nigeria, for instance, is now 16.82%, according to the latest CPI report by the country\u2019s statistical agency.<\/p>\n
In an interview with Bernard Avle<\/strong> on the Citi Breakfast Show<\/strong>, Professor Annim said it would be incorrect to conclude that Ghana is worst off without considering the inflation rate history of other countries.<\/p>\n \u201cIt is always not advisable to look at a statistic from only one point time perspective. One of the things I see going around is the number of times inflation has increased in different countries. So if now, for some reason someone says that Ghana\u2019s inflation rate is 26.6 percent and that of Nigeria is 16.82 percent, without looking at the number of times Nigeria\u2019s rate of inflation has changed over a period of time, that argument will be out of context. For instance, same time last year, our inflation rate was 2.5 percent so if you look at our current inflation rate, it is four times more.\u201d<\/p>\n \u201cIf you take that of Nigeria which was also about say 3 percent when ours was about 7.5 percent, we will not be doing justice to the numbers,\u201d he argued.<\/p>\n Ghana\u2019s inflation has soared<\/strong><\/span> again to hit 27.6 percent in the month of May 2022.<\/p>\n This represents a four percentage points increase in the inflation rate compared to the 23.6 percent recorded in April 2022.<\/p>\n On a monthly basis, inflation, however, dropped by one percent to record 4.1 percent in May 2022.<\/p>\n This was captured in the Consumer Price Index (CPI) data released by the Ghana Statistical Service (GSS) on Wednesday, June 8, 2022.<\/p>\n \u00a0<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":" The Government Statistician, Prof. Samuel Kobina Annim, says it will be out of place to compare Ghana\u2019s inflation rate with other African countries. Food inflation rose to 30.1 percent in May 2022, compared to 26.6 percent recorded in April, higher than most African countries. The inflation rate in Nigeria, for instance, is now 16.82%, according […]<\/p>\n","protected":false},"author":1,"featured_media":1115935,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[72],"tags":[10426,462,250,227,10705,1722,179],"class_list":["post-1115932","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-compare","tag-countries","tag-ghanas","tag-inflation","tag-itll","tag-place","tag-rate"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1115932","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/comments?post=1115932"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1115932\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1115932"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1115932"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1115932"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}