{"id":208678,"date":"2024-08-15T08:08:50","date_gmt":"2024-08-15T08:08:50","guid":{"rendered":"https:\/\/www.ghanamma.com\/2024\/08\/15\/theo-acheampong-welcomes-drop-in-ghanas-inflation\/"},"modified":"2024-08-15T08:08:50","modified_gmt":"2024-08-15T08:08:50","slug":"theo-acheampong-welcomes-drop-in-ghanas-inflation","status":"publish","type":"post","link":"https:\/\/www.ghanamma.com\/2024\/08\/15\/theo-acheampong-welcomes-drop-in-ghanas-inflation\/","title":{"rendered":"Theo Acheampong welcomes drop in Ghana\u2019s inflation"},"content":{"rendered":"

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Theo Acheampong<\/figcaption><\/figure>\n<\/div>\n

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An economist Dr\u00a0Theo Acheampong has welcomed the fall in Ghana\u2019s inflation rate which dropped to 20.9 percent in July as announced by the Government Statistician Professor Samuel Anim on Wednesday, August 14.<\/strong><\/p>\n

The drop marks the fourth consecutive month of decline in the rate.<\/p>\n

The drop represents a 2.1 percentage point decrease from June\u2019s 23.0%, signalling a gradual easing of the economic pressures that intensified throughout 2023.<\/p>\n

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This sustained decline in inflation, which began in April 2024, indicates a steady cooling of price growth.<\/p>\n

Reacting to this in a post on his Xplatform, Dr Acheampong said \u201cGhana\u2019s inflation falls for fourth consecutive month with declines in both food and non-food inflation. Good!\u201d<\/p>\n

He further asked all perosn to note that this is a bumper season for local produce\u2014a reason why many of our towns and villages have their main festival from August to September.<\/p>\n

People, especially those in the villages, have options to substitute their dietary preferences.<\/p>\n

\u2018So, it is not all about the exchange rate pass-through, as some think mistakenly. Do take time to interrogate the numbers, and it becomes obvious that there is a seasonal effect here. A decomposition of inflation in Ghana reveals very interesting structural and other seasonal dynamics.<\/p>\n

\u201cAt the end of the day, however, only three metrics (2IE as I call it) directly matter for the average Ghanaian: INFLATION, INTEREST RATES and EXCHANGE RATE (DOLLAR-CEDI). These three indicators are also dynamically linked (co-integrated, as we say in econometrics). This is why our politicians consistently twist their interpretation to suit their parochial\/partisan interests\u2014e.g., choosing different base years, using nominal instead of real figures, annual vs quarterly growth rates, etc. Shine your eyes, my people!\u201d<\/p>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"

Theo Acheampong An economist Dr\u00a0Theo Acheampong has welcomed the fall in Ghana\u2019s inflation rate which dropped to 20.9 percent in July as announced by the Government Statistician Professor Samuel Anim on Wednesday, August 14. The drop marks the fourth consecutive month of decline in the rate. The drop represents a 2.1 percentage point decrease from […]<\/p>\n","protected":false},"author":1,"featured_media":208679,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[],"class_list":["post-208678","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business"],"yoast_head":"\nTheo Acheampong welcomes drop in Ghana\u2019s inflation - Ghanamma.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.ghanamma.com\/2024\/08\/15\/theo-acheampong-welcomes-drop-in-ghanas-inflation\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Theo Acheampong welcomes drop in Ghana\u2019s inflation - Ghanamma.com\" \/>\n<meta property=\"og:description\" content=\"Theo Acheampong An economist Dr\u00a0Theo Acheampong has welcomed the fall in Ghana\u2019s inflation rate which dropped to 20.9 percent in July as announced by the Government Statistician Professor Samuel Anim on Wednesday, August 14. 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