Home / GENERAL NEWS / US Economist To President Akufo-Addo : I Measure Ghana’s Inflation At 91%; Scrap Ineffective Policies To Tackle Sky-High Rate

US Economist To President Akufo-Addo : I Measure Ghana’s Inflation At 91%; Scrap Ineffective Policies To Tackle Sky-High Rate

Spread the love

Professor Professor of applied economics at the Johns Hopkins University in the US, Steve Hanke has told President Nana Addo Dankwa Akufo-Addo to remove his ineffective economic policies that are causing high inflation rate in the country.

He also asked the President to install a currency board to assist in tackling the upward trend of the rate.

In a tweet, Prof Hanke said “On Jan 12th, I measured #Ghana‘s inflation at a sky-high 91%/yr, which is why in this week’s inflation roundup, Ghana takes the 7th place. To end its inflationary disaster, Pres. Akufo-Addo needs to scrap his ineffective economic policies and install a currency board.”

 

 

See also  "President Akufo Addo Is One Of The Wisest In The World, A Great Erudite" - Serbian President Says

The official rate of inflation for December 2022 was 54.1 per cent, as announced by the Ghana Statistical Service (GSS) on Wednesday January 11.

This is up from the 40.4 per cent recorded in November same year.

The month-on-month inflation rate was at 3.8% in December 2022.

According to the figures, five divisions recorded inflation rates higher than the national average.

Housing, Water, Electricity, Gas and Other Fuels (82.34%); Furnishings, Household Equipment (71.52%); Transport (71.42%); Personal Care, Social Protection and Miscellaneous Goods and Services (60.94%) and Food and Non-Alcoholic Beverages (59.71%).

See also  Government Sets Aside $100M For Commencement Of Agenda 111 Hospitals

Whilst Food inflation went up by 4.4% in December 2022, Non-Food Inflation went up to 49.9% in December 2022, from 46.5% in November 2022.

Inflation for locally produced items was 51.1% and inflation for imported items was 61.9%.

Eight sub-classes registered inflation rates higher then the food inflation average. They included Water (94.2%), Fruit and Vegetable Juices (84.6%), Milk, Other Diary Products and Eggs (82.2%) and Tea, Mate and Other Plant Products for Infusion (77.7%).

 

 

 

 

See also  Ghanaians Travelling To Accra End Up In Spain In Emergency Landing

Thanks for reading from MyGhanaMedia.com as a news publishing website from Ghana.

 

Source:  MyGhanaMedia.com

 

There are four types of content published on   MyGhanaMedia.com daily: curated content; syndicated content; user-generated content; and original content.

 

 

 

 

Are You Suffering From Weak Erection, Low Libido, Premature Ejaculation Or Infections? – Get M-Plus No

 

 

  Maccun Plus (MPlus) is for men and women as a natural aphrodisiac with no side effects

Just contact the number below for M PLUS HONEY.

024-377-7896 / 0561193978

 

 

 

 

 

 

 

Send your news stories to my[email protected] and Chat with us via WhatsApp on +233 200818719

 

About Adwenpa-Hene

I'm Adwenpa-Hene |Blogger & Broadcaster Journalist. I am the CEO and manager of this noble website. I publish on Entertainment, Sports, Politics, Lifestyle, and Technology. You can also follow Us on : YouTube Channel - My Ghana Media TV, Facebook - MyghanaMedia TV , Twitter - @MyGhanamedia2 & Instagram - My Ghana Media TV. Email Address: [email protected] Contact Us: 0200818719

Check Also

Osofo Kyiri Abosom Dumps His Wife On Live TV Show

Spread the love Founder and Leader of the Life Assembly Worship Centre, Rev. Christian Kwabena …

Leave a Reply

Your email address will not be published. Required fields are marked *