The Numbers Don’t Match Dr. Boako Says Real Inflation Is 37%, Not 5.5%

A recent statement by Dr. Gideon Boako, the Deputy Ranking Member of Parliament’s Finance Committee, has sparked a major conversation about the true cost of living in Ghana. According to a report by GHOneTV, Dr. Boako is challenging the official inflation figures released by the government. He argues that while the official numbers claim inflation is at 5.5%, the reality for the average Ghanaian is completely different. For someone who pays rent, takes a trotro to work, and buys tomatoes at the market, the real inflation rate feels closer to 37%.

To understand this, you first need to know what “inflation” means. In simple terms, inflation is the rate at which prices for everyday goods and services go up. When the government says inflation is 5.5%, they are saying that prices are rising very slowly. But Dr. Boako is saying that this number does not reflect what is happening on the ground. He is pointing out a big gap between the “paper” economy and the “real” economy—the one where people actually live and spend money.

So why is there such a huge difference between 5.5% and 37%? Dr. Boako explains that the official numbers do not match what Ghanaians actually pay. If you go to the market, the price of tomatoes, the cost of transport, and the rent you pay have all gone up significantly. These are the things that matter most to ordinary people. When the official statistics say one thing but your wallet says another, it creates confusion and frustration. Dr. Boako is essentially saying that the people who calculate the national inflation numbers are not living the same reality as the average citizen.