“Every Commodity Is Increasing Astronomically So What Is The Essence Of Your Single Digit Inflation Rate”– NDC Bempah
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An outspoken member of the NDC communication team in the eastern region who seeks the mandate of the able party folks to become the next communication officer in the Abuakwa South constituency in the eastern region, Adjei Bempah has taken on the Vice President, H. E. Mahamudu Bawumia.
Adjei Bempah does not understand why the vice president of Ghana and the NPP government are deceiving the citizenry on the impacts of the inflation rate of the country.
The NDC communicator does not accept that the inflation rate of Ghana is directly proportional to the standard of living in the nation.
In a studio discussion on Radio 1, a reputable Radio establishment in the eastern region, the vociferous communicator explained to the host, Nana Kwabena Addo that the New Patriotic Party led by the vice president, H. E. Alhaji Bawumia are deceiving the nation with their inflations and the standard of living.
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According to him, before the NPP took over from the NDC administration, the inflation rate was around 15% but Ghanaians were enjoy better than under the supposed single digit under NPP.
” Under the 15% inflation, Half bag of Rice was GHS 125 but it’ s almost GHS180 under the single digit. A gallon of petrol under the single digit is close to GHS30. Under the single digit inflation, lorry fare from Osiem to Bunso has increased from GHS 1. 50 to GHS 4. 50. Every commodity in this country is increasing astronomically so what is the essence of the single digit inflation rate? ” – Adjei Bempah asks.
Adjei Bempah used the opportunity to advise the NPP government to use their platforms to sensitize Ghanaians on how to manage and adapt to the country’ s hardships instead of telling Ghanaians to jubilate because of the single digit inflation rate.
Inflation is the increase in the price level of consumer goods and services over a certain time period. A high inflation rate is often caused by excessive money supply and can turn into hyperinflation, i. e. if inflation occurs too quickly and rapidly, it can devalue currency and cause a recession and even economic collapse.
The annual inflation rate in Ghana accelerated for the third straight month to 9. 7% in August of 2021, from 9% in July. It is the highest inflation rate since March but still within the Bank of Ghana’ s target band of 8% plus or minus 2 percentage points. Main upward pressure came from prices of food (10. 9% vs 9. 5% in July), housing & utilities (15. 2% vs 14. 1%) and transportation (12. 8% vs 12. 1%). On a monthly basis, consumer prices went up 0. 3%, the least in nine months.
