ECONOMIST SAMSON ANOMAH SHARES HIS VIEWS ON GHANA'S INFLATION

Ghana's inflation outlook has shown signs of improvement compared with recent years. However, recent figures indicate an increase in the inflation rate, raising concerns about the rising cost of living and its impact on households. Speaking during a live phone interview with Nana Nhyiraba Kwabena Asirifi on ICAD TV's Ghana Nti Morning Show, economist Samson Anomah expressed concern over the recent rise in Ghana's inflation rate. According to him, inflation increased from 3.7 percent in May to 5.3 percent in June, describing the month-on-month increase as significant and a development that should not be overlooked. Samson Anomah explained that rising inflation leads to higher prices for goods and services, placing additional financial pressure on households. He pointed to increases in utility costs, particularly electricity, as one of the factors affecting consumers. He further noted that while the prices of goods and services continue to rise, the incomes of many Ghanaians have remained largely unchanged, reducing their purchasing power and making it more difficult for families to meet their daily needs. According to the economist, inflation generally has adverse effects on the economy because it erodes the value of incomes and increases the cost of living, particularly for low- and middle-income earners.