The rate of inflation in Ghana has risen to its highest level in almost a decade, with food prices increasing by around a fifth.
The government said the inflation rate went up from more than 15% in February to 19.4% in March - far exceeding the central bank’s target of between 6% and 10%.
The bank raised interest rates last month in an effort to curb rampant price rises, which analysts say threaten to plunge one of West Africa's largest economies into crisis.
The government has also announced a package of spending cuts to try to reduce its budget deficit and prop up the local currency.
Source: BBC
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
STOP THE ***barred word*** OF PEASANT FARMING TODAY CHINA BOOST OF SUFFICIENT GRAINS STORAGE FOR ONE YEAR TO FEED 1.4 BILLION OF THEIR POPULATION WITHOUT SCRAMBLING TO IMPORT AND GHANA CANNOT EVEN FEED 30 MILLION WHY BECAUSE CHINA DOES COMMERCIAL IRRIGATED FARMING EVEN FLOADING SOME OF THEIR LANDS THAT HAVE TOO MUCH ALKALINE WITH SEA WATER TO ENABLE THEM TO PLANT ON IT. JUST GOOGLE THEY HAVE ALL THAT ON YUTUBE TO WATCH WHY GHANA WITH ***barred word*** AGRIC MINISTER WASTING TIME AND MONEY ON PEASANT FARMING WHICH ANY SERIOUS COUNTRY WILL NOT IF THEY WANT TO BE SELF SUFFICIENT IN RICE MAIZE, WHEAT, CASHEWS, COPEAS, SUNFLOWER OIL AND ALL OTHER STAPLES. ONLY LAZY PEOPLE WORLD DOES THAT AND THAT SHOW UP IN OUR INFLATION YEAR TO YEAR.