Ahead Of General Elections: NDC Cries Over Declining Inflation

The National Democratic Congress ( NDC) are clearly uncomfortable with the declining inflation.

The July inflation rate announced by the Ghana Statistical Service (GSS) on Wednesday, August 14, is the lowest in 28 months, and obviously the main opposition party believe it could play well into the campaign strategies of the NPP ahead of the general elections.

Aware that the continuous declining inflation may not help their course in the elections, the NDC and its members have gone to town lambasting the GSS on social media on the baseless allegation that the inflation figures were cooked by the GSS.

Figures
Figures released by the GSS showed that year-on-year inflation continues to fall for the fourth consecutive month with the inflation rate for July standing at 20.9% down from 22.8% in June.

According to Government Statistician, Professor Samuel Kobina Annim, the cost of food on the market is the driving force behind the disturbing two-digit inflation rate. “For the fifth consecutive month, that is from March 2024 to July 2024, we continue to see a decline in the overall rate of inflation, declining from 25.8% through 25.0% and consistently to 20.9% in the month of July 2024 indicating a five-month consecutive decline in rate of inflation on a year on year basis,” Professor Annim announced.

The GSS revealed that food inflation for July stood at 21.5% declining from 24% the previous month whilst non-food inflation recorded 20.5%, a dip from 21.6% in June.

The disparity between homegrown items and imported items could not have been clearer. While inflation rate for locally produced products recorded 23.3%, inflation for imported items was at 15.6% for July.