According to a Presidential Staffer, Mr Dennis Miracles Aboagye, the decline in the inflation rate reflects the character that President Nana Addo Dankwa Akufo-Addo and Vice President Dr Mahamudu Bawumia are displaying in their efforts to construct a more robust and stable economy.He stated that he has no doubt that Ghana’s inflation rate would fall below 16% by 2024.According to the Ghana Statistical Service (GSS), the inflation rate fell to 26.4% in November 2023 from 35.2% in October 2023.Food inflation, according to the GSS, was a key contributor to the reduction.In November 2023, food inflation fell by 12.6% to 32.2%. Food inflation was 0.8% month over month.Non-food inflation fell to 21.7% in October 2023, down from 27.7% in October 2023. Non-food inflation was 2.2% on a month-to-month basis.Five divisions had greater inflation rates than the national average.Personal Care, Social Protection, and Miscellaneous Goods and Services (35.4%); Food and Non-Alcoholic Beverages (32.2%); Furnishings, Household Equipment, and Routine Household Maintenance (32.2%); and Restaurants and Accommodation Services (27.1%).Mr Miracles Aboagye issued a statement in response to this event, saying, “This country is surely in safer hands under an NPP Government than the NDC, who is best known for giving up in the midst of crisis and calling the citizens names. Slowly but steadily, we shall Rise”
Below is his full statement…
Effective Leadership isn’t the absence of challenges.
Effective leadership is the presence of courage to mobilise the people and the resources in the midst of crisis to chart a clear path of recovery and growth.
The Akufo-Addoo and Bawumia Government have proven time and again that, sincerity and commitment to leadership produces results.
This country like all other countries in the world has experienced in the last 3 years the most devastating disruptions to global economy since the 1920s.
A global pandemic on the scale not experienced like we have since the Spanish flu.
1st world countries like the USA and the U.K to the least on the leader have experienced a radical hit to our economies on a scale never envisaged.
BUT one thing stands out for Ghana 🇬🇭. That in a difficult moment like this, we happen to have an NPP Government and through that, we are shaking off the shock and seeing progress.
The chart below and the massive progress made in reducing the rate of inflation is a complete testimony that, we have a government that is ready to work with us to stabilize and build back our economy faster than anticipated.
Surely Nana Akufo-Addo and Dr Bawumia are showing character in our efforts towards building a more resilient, stable economy.
I have no doubt, our rate of inflation show be getting to under 16% by next year 2024.
This country is surely in safer hands under an NPP Government than the NDC who is best know for giving up in the midst of crisis and calling the citizens names.
