Drop in inflation: Akufo-Addo, Bawumia showing character in building a resilient economy – Miracles

A Presidential Staffer, Mr Dennis Miracles Aboagye has said that the drop in the inflation rate is an indication of the character that President Nana Addo Dankwa Akufo-Addo and Vice President Dr Mahamudu Bawumia are showing in the efforts towards building a more resilient and stable economy.

He said he has no doubt that Ghana’s rate of inflation will get to under 16% by next year 2024.

The inflation rate dropped to 26.4% in November 2023 from 35.2% recorded in October 2023, the Ghana Statistical Service (GSS) announced.

According to the GSS, the major factor that contributed to the drop was food inflation.

Food inflation dropped by 12.6% to 32.2% in November 2023. The month-on-month rate of food inflation was 0.8%.

For non-food inflation, it also eased to 21.7%, as compared with 27.7% in October 2023. The month-on-month rate of non-food inflation stood at 2.2%.

Five divisions recorded inflation rates higher than the national average.

They are Alcoholic Beverages, Tobacco and Narcotics (39.0%); 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%).

In a statement reacting to this development, Mr Miracles Aboagye said “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.

Slowly but steadily we shall Rise