Ghana’s consumer price inflation rate has hit 23.6%, a sharp rise from 19.4% in March.
The latest figures announced by Government Statistician Kobina Annim on Wednesday show that prices for imported items increased faster than locally produced items - the first time in over two years.
The rise in the cost of food and services has been condemned by Ghanaians who said the cost of living here was fast becoming unbearable.
The surging inflation rate, the highest it’s been in more than a decade, is expected to derail the country’s targeted economic growth.
The second-biggest West African economy is also battling a sharp increase in the cost of transport, water and gas and a proposed electricity price hike of nearly 150%.
Trade unions have called on the government to give public sector workers a 20% cost of living allowance, an increase in the minimum wage and the removal of petroleum taxes.
Experts have warned that the surge in international food prices is expected to hit African economies the hardest and could trigger social unrest in some countries.
Source: BBC
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THIS HAVE EASY SOLUTION SO LONG AS WE KEEP IMPORTING ***barred word*** INTO GHANA THE CEDI WILL CONTINUE TO DEPRECIATE. WHY ARE WE IMPORTING RICE INTO GHANA THAT GHANA HAVE FERTILE LAND TO PRODUCE RICE DOES IT MAKE SENSE. WHY WE IMPORT FLOUR WHILES BRASIL, EQYPT GROW WHEAT WHICH GHANA CAN DO SAME ARE WE SERIOUS AS A NATION WHO IS THIS AGRIC MINISTER IS HE SRIOUS AS A LEADER, STOP PEASANT FARMING AND DO COMMERCIAL FARMING ZIMBABWEA USE TO DO COMMERCIAL FARMING AND THEY WERE BREAD BASKET OF SOUTHERN AFRICA UNTI THEIR ***barred word*** LEADER MUGABE STARTED TAKING THE LAND FROM WHITE FARMERS TO THE BLACKS WHO COULDN'T FARM ANYWAY MEANWHILE THESE BLACKS WERE WORKING FOR THESE WHITE FARMERS AT THAT TIME. GOVERNMENT SHOULD PUT HEAVY TARRIFS ON PRODUCTS THAT CAN BE GROWN OR PRODUCE IN GHANA TO STOP THIS ***barred word*** ELSE WE ARE DOOM AS A THE SOLUTION IS STOP PEASANT FARMING ***barred word***, FERTILIZER SUBSIDIES BY GOVERNMENT AND PROMOTE COMMERCIAL IRRIGATED FARMING IN GHANA AS DONE IN UKRAINE AND RUSSIA. GHANA CAN GROW WHEAT JUST AS BRIZILE DOES IN COMMERCIAL FARMING. GOVERNMENT SHOULD ALLOW FARMERS TO BUY THEIR OWN FERTILIZER WITHOUT SUBSIDISING IN OPEN MARKET AND USE THE MONEY TO BUY FERTILIZER TO FLOOD THE MARKET THAT WILL DRIVE PRICES DOWN FOR ODINARY CONSUMER AND THERE WILL NOT BE ANY SMUGGLING SINCE IS NOT GOING TO BE PROFITABLE FOR SMUGGLERS. IF SMUGGLERS ARE CAUGHT CAUGHT CONFISCATE THEIR LOAD AND AUCTION IT OR GIVE IT