\n\n<\/p>\n
\nThe recent Inflation rate of 33.9% for the Month of August 2022 has caused some wild jubilation among the members of the National Democratic Congress(NDC) since such a high inflation rate may create a political advantage for them ahead of the 2024 general elections.\n<\/p>\n
\nHowever, the historical data of Ghana’s Inflation clearly VINDICATE NDC as the Worse Managers of the Economy since Independence.\n<\/p>\n
\nIn 1996, NDC won the general elections with Inflation rate of 46.56% so I am wondering why some members of NDC would think that they can win the 2024 general elections just because of the current Inflation rate of 33.9% for the Month of August 2022.\n<\/p>\n
\nFrom Busia to Nana Akufo-Addo, NPP Government has better track record when it comes to Management of the Country’s inflation.\n<\/p>\n
\nThe lowest Inflation rate ever recorded in Ghana since 50 years ago was 3.03% under Busia’s Government.\n<\/p>\n
\nThe highest Inflation rate ever recorded in Ghana since 57years ago was 122.87% under Rawlings’ Government.\n<\/p>\n
\nInflation Rates under Busia’s Government\n<\/p>\n
\n1969———7.32%\n<\/p>\n
\n1970———3.03%\n<\/p>\n
\n1971———9.56%\n<\/p>\n
\n1972——–10.07%\n<\/p>\n
\nBusia’s Government successfully kept Inflation rate under single digit until exit of power in 1972.\n<\/p>\n
\nInflation Rates under Hilla Limann\n<\/p>\n
\n1979——54.44%\n<\/p>\n
\n1980——-50.07%\n<\/p>\n
\n1981——-116.50%\n<\/p>\n
\nHilla Limann maintains hyperinflation throughout his tenure in office, and he exited power with 116.50% Inflation.\u00a0\n<\/p>\n
\nInflation Rates under Rawlings Government\n<\/p>\n
\n1982———-22.30%\n<\/p>\n
\n1983———122.87%\n<\/p>\n
\n1984———-39.67%\n<\/p>\n
\n1985———-10.31%\n<\/p>\n
\n1986———–24.57%\n<\/p>\n
\n1987———–39.82%\n<\/p>\n
\n1988———-31.36%\n<\/p>\n
\n1989———-25.22%\n<\/p>\n
\n1990———-37.26%\n<\/p>\n
\n1991———–18.03%\n<\/p>\n
\n1992————10.06%\n<\/p>\n
\n1993————24.96%\n<\/p>\n
\n1994————24.87%\n<\/p>\n
\n1995————59.46%\n<\/p>\n
\n1996————46.56%\n<\/p>\n
\n1997————27.89%\n<\/p>\n
\n1998———–14.62%\n<\/p>\n
\n1999———–4.87%\n<\/p>\n
\n2000———–40.24%\n<\/p>\n
\nAlmost 20 years of PNDC\/NDC produced the worst inflation rates in the history of Ghana with 122.87%, 59.46%, 46.56%, 40.24%, 39.82%, 39.67%, 37.26% for 1983, 1995, 1996, 2000, 1987, 1984 and 1990 respectively.\u00a0\n<\/p>\n
\nRawlings exited power with inflation rate of 40.24%.\n<\/p>\n
\nInflation Rates under Kufuor’s Government\n<\/p>\n
\n2001————41.51%\n<\/p>\n
\n2002————9.36%\n<\/p>\n
\n2003————29.77%\n<\/p>\n
\n2004————18.04%\n<\/p>\n
\n2005————15.44%\n<\/p>\n
\n2006————11.68%\n<\/p>\n
\n2007————10.73%\n<\/p>\n
\n2008————-16.49%\n<\/p>\n
\nKufuor’s Government performed fairly well when it comes to the management of the Country’s inflation rate, exiting power with 16.49% Inflation rate.\u00a0\n<\/p>\n
\nThe USA\/UK invasion of Iraq and Afghanistan coupled with 2007\/2008 global\u00a0financial crisis badly affected the inflation rates under Kufuor’s Government.\n<\/p>\n
\nInflation Rates under Mills Government\n<\/p>\n
\n2009———–19.25%\n<\/p>\n
\n2010———–10.73%\n<\/p>\n
\n2011———–8.73%\n<\/p>\n
\n2012————11.19%\n<\/p>\n
\nMills achieved single digit Inflation for only one year in 2011 and unfortunately dies in July 2012.\n<\/p>\n
\nThere were no Global financial Crisis and\u00a0Russia-Ukraine War during the tenure of Professor Atta Mills.\n<\/p>\n
\nInflation Rates under Mahama’s Government\n<\/p>\n
\n2013————–11.67%\n<\/p>\n
\n2014—————15.49%\n<\/p>\n
\n2015—————17.15%\n<\/p>\n
\n2016—————17. 45%\n<\/p>\n
\nMahama’s Government with IMF Programme still struggled with the management of the Country’s inflation.\n<\/p>\n
\nThere was no global COVID-19 pandemic under Mahama’s administration.\n<\/p>\n
\nThere was no invasion of Ukraine by Russia during tenure of Mahama’s administration.\n<\/p>\n
\nThe following policies were Not under implementation during the tenure of Mahama’s administration:\n<\/p>\n
\n1. Free SHS and TVET\n<\/p>\n
\n2. 1D1F\n<\/p>\n
\n3. 1 Constituency 1 Ambulance\n<\/p>\n
\n4. NABCO\n<\/p>\n
\n5. NALEP\n<\/p>\n
\n6. YouStart\n<\/p>\n
\n7. Payment of Allowances for Teachers and Nursing Trainees\n<\/p>\n
\nWithin the 4 years mandate of John Mahama, he FAILED to achieve any single digit inflation rate from 2013 to 2016.\n<\/p>\n
\nSince 1992, John Mahama is the only President who was UNABLE to achieved a single digit inflation rate for Ghana.\u00a0\n<\/p>\n
\nInflation Rates under Akufo-Addo’s Government\n<\/p>\n
\n2017————12.37%\n<\/p>\n
\n2018————-7.81%\n<\/p>\n
\n2019————–7.14%\n<\/p>\n
\n2020————–9.89%\n<\/p>\n
\n2021————–9.99%\n<\/p>\n
\n2022————-as at August is 33.9%\n<\/p>\n
\nFor four(4) consecutive years, Akufo-Addo’s Government achieved single digit inflation rates for the year 2018, 2019, 2020 and 2021 respectively.\n<\/p>\n
\nThe inflation rate started increasing astronomically to 33.9% after the invasion of Ukraine by Russia and that is a fact.\n<\/p>\n
\nMost importers who depend on the importation of goods from Ukraine and Russia suffered setbacks due to the ongoing War between Russia and Ukraine.\u00a0\n<\/p>\n
\nAs such, imported inflation has become a major contributing factor to the 33.9% Inflation rate for the Month of August 2022.\n<\/p>\n
\nHowever, I have the greatest confidence that before the tenure of Akufo-Addo’s Government come to end, the inflation rate of Ghana will eventually reduce to a possible single digit again or within appreciable percent.\n<\/p>\n
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\n , . , . () , , , , , , , , . \/ , and\/or . , , and\/or , and\/or <\/span> The recent Inflation rate of 33.9% for the Month of August 2022 has caused some wild jubilation among the members of the National Democratic Congress(NDC) since such a high inflation rate may create a political advantage for them ahead of the 2024 general elections. However, the historical data of Ghana’s Inflation clearly VINDICATE NDC as […]<\/p>\n","protected":false},"author":1,"featured_media":1215590,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[10],"tags":[5395,227,4024,680,7025,4025,1753,1591,1445,998,2974,4955],"class_list":["post-1215589","post","type-post","status-publish","format-standard","has-post-thumbnail","category-top-stories","tag-feature","tag-inflation","tag-kojo","tag-ndc","tag-npp","tag-opoku","tag-politics","tag-rates","tag-razak","tag-record","tag-track","tag-writes"],"_links":{"self":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1215589","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=1215589"}],"version-history":[{"count":0,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/posts\/1215589\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/media?parent=1215589"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/categories?post=1215589"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.ghanamma.com\/2022\/wp-json\/wp\/v2\/tags?post=1215589"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
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