Thursday, 05 February

Oppong Nkrumah questions 3.8% inflation figure, says it doesn’t match market reality

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Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah,
 

Ranking Member on Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has cast doubt on the accuracy of Ghana’s January 2026 inflation data, insisting that the figures do not mirror the day-to-day experiences of citizens at markets across the country.

Data published by the Ghana Statistical Service on Wednesday, February 4, showed consumer price growth easing to 3.8 per cent in January, down from 5.4 per cent in December 2025. The statistical agency attributed the drop to reduced price increases among certain categories of goods and services.

But responding to the release, the Ofoase-Ayirebi legislator argued that conditions on the ground suggest otherwise. He said reports from residents in his constituency and feedback from the wider public stand in sharp contrast to the official numbers.

Kojo Oppong Nkrumah indicated that Parliament would request additional explanations from the Government Statistician to better align the published data with the cost-of-living pressures being felt by households.

He emphasised that inflation statistics should go beyond methodological accuracy and resonate with the realities faced by consumers who buy food and essential items in local markets nationwide.

The Ranking Member also took aim at government’s broader inflation strategy, contending that policy responses have been overly focused on tightening liquidity, while paying insufficient attention to production constraints and supply-side weaknesses within the economy.

   

Source: Classfmonline.com/Zita Okwang