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Business News of Monday, 21 February 2022


High inflation: Tough times ahead for Ghanaians - Economist

PPI for January 2022 increases by 0.9% PPI for January 2022 increases by 0.9%

PPI for January 2022 increases by 0.9%

Housing, water, electricity, gas main drivers of EPA, Ghana Statistical Service report

Upward trend of inflation likely to worsen, Economist

An Economist, Eugene Bawelle, has projected that Ghanaians in the coming months will witness tough times following the rising inflation rate in the country.

The Producer Price Inflation (PPI) for January this year recorded 15.6 percent, Ghana Statistical Service has reported.

For month-on-month inflation, it had a 4.0 percent change.

Reacting to this, the economist said the reduction in purchasing power amounted to the high month-on-month inflation as shown in the latest report by the Ghana Statistical Service (GSS).

In an interview with Graphic Business, Mr Bawelle said the upward trend in inflation is likely to worsen.

“The effect is more pronounced for salaried workers and to some extent, pensioners whose incomes are fixed, coupled with increased taxes with the pending E-Levy...The next couple of months will be really tough for the ordinary Ghanaian,” he stated.

Housing, water, electricity, gas and other petroleum sectors were noted to be the main drivers of January's inflation rate.

This was followed by transportation, food and non-alcoholic beverages sub-sectors.