Ghana economic woe deepen with rises inflations

 Ghana economy continues to worsen day by the day, with figures released by the Ghana Statistical Service painting a grim picture.

The rate of inflation rose to 34% in August, up from 32% in July.

The cost of housing, water, electricity, gas and other fuels go up by over 48%.

Many are concerned things could get worse as transport unions have also announced a 30% increase in fares with effect from the next week.

Some Ghanaians have attributed the economic situation to mismanagement and corruption.

But the government insists it is due to the combined effects of the global pandemic and Russia’s invasion of Ukraine.

Ghana is now seeking a bail-out package from the International Monetary Fund (IMF).