Member of Parliament for Afigya Kwabre North, Collins Adomako-Mensah, has expressed concern over the growing disconnect between Ghana’s declining inflation figures and the persistent high prices of goods and services on the market.
In an interview on Metro TV’s Good Morning Ghana, the MP acknowledged that while the country’s inflation rate has seen a significant drop—from over 30% to 13.7%—many consumers have yet to feel the benefits.
“Inflation has come down, but more must be done,” he stated. “I watched your business segment where businesspeople are still complaining about the high cost of goods.”
Adomako-Mensah pointed out that although some prices have slightly decreased, the majority remain unchanged compared to when inflation was at its peak.
“On paper, inflation has dipped. Some goods have reduced in price, to be fair, but most are still being sold at the same rates we saw during the high-inflation period,” he said.
The MP urged government ministers to engage directly with traders and industry stakeholders to understand why market prices are not adjusting in line with economic indicators.
“Ministers need to talk to traders and businesses to understand why, despite inflation falling from 30% to 13.7%, prices have not seen a corresponding decline.”
He emphasized that a drop in inflation should ideally be reflected in market prices, even if the decrease is not drastic.
“Ordinarily, when inflation drops, you would expect prices to fall as well—if not sharply, at least progressively,” he added.
Source: MyNewsGh.com
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