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Lamentations in Ghana as inflation rate hits 19.4%, highest since August 2009

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Ghanaians have been lamenting as
rising food prices and cost of living pushed Ghana’s inflation rate to an all time high at 19.4% in the month of March, 2022, the highest rate it had recorded since August 2009.

The Ghana Statistical Service (GSS) which raised an alarm on Wednesday, said the cost of basic foodstuffs such as oil and fats have risen by 28.2%, water by 27.1%, cereal products, 25.0%, Vegetables, 23.8%, Fish and other Seafood, 23.7%, fruits and nuts 22.1%, soft frinks, 20.5%, while meat with a 20.2% increase, recorded high inflation rates than the national average.

According to the figures, food inflation recorded a rate of 22.4% in March 2022, compared to 17.4% in February 2022, while non-food inflation recorded a rate of 17.0% in March 2021, from 14.5% recorded in February 2022.

“The transport sector, including fuel, recorded the highest inflation rate of 27.6%, followed by housing with an inflation rate of 21.4%.

“Month-on-month inflation between February 2022 and March 2022 was 4.0% while on a month-on-month basis, food inflation exceeded non-food inflation by 0.8 percentage points,” the GSS said.

What the rising inflation means for the West African country’s economy is that interest rates will continue to surge, while cost of credit will also go up.

In attempts to control the raging price rise, the Ghanaian Central Bank last month, decided to raise interest rates, a move analysts condemned and said would threaten one of West Africa’s largest economies, ultimately leading the country into an economic crisis.

The government had also announced a reduction of salaries of political appointees by between 20% and 30%, all in a bid to check the rampaging inflation rate to no avail.

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Metro

Zambia: President Hichilema urges traditional leaders to invoke rainmaking powers amid drought

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Zambian President, Hakainde Hichilema, has called on traditional leaders to call upon their rainmaking powers by praying for rain as the nation continues to face the menace of drought.

Hichilema, who made the plea while speaking during the Shikaumpa traditional ceremony of the Ila people in Namwala on Sunday, expressed hope for divine intervention and sufficient rains.

“We pray that this year, God will give us rains, sufficient rains, so we can grow more food, so we can take care of the things, the assets that we keep,” the President stated.

He noted that he was informed of certain chiefs known for their rainmaking abilities, including Senior Chief Mwamba of Northern Province, Chief Sailunga of North-Western Province and Mwami Monze from the Southern Province and urged them to use their powers to invoke rain, adding that the chiefs should continue their prayers for rain, believing that “God will hear our cry.”

The President also encouraged not only the chiefs but also the churches and the entire nation to join in prayers for rain.

“All of us, the churches, everybody, we must pray for rains so that we can take care of God’s people properly,” he said.

The head of state further urged farmers to intensify efforts at planting crops and maximizing their harvest for national food security once the rain comes.

The drought in Zambia in recent
seasons have left 84 districts severely impacted, leading to food shortages and a worsening electricity deficit due to low water levels.

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Metro

Tiinubu committed to easing hardship Nigerians are going through— Info Min, Idris

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Nigeria’s Minister of Information and National Orientation, Mohammed Idris, has, once again, reiterated President Bola Tinubu’s dedication and commitment to easing the economic hardship of Nigerians as a result of the removal of fuel subsidies and other policies of the government.

Idris, who gave the assurance during a live radio programme on the Hausa service of Federal Radio Corporation of Nigeria (FRCN) titled, “Hannu Da Yawa,” said fuel subsidies primarily benefited a select few wealthy Nigerians to the detriment of the ordinary Nigerian masses.

The minister, however, emphasized that the Tinubu-led administration was working towards economic stability, even as the president had urged ministers to cut expenses by limiting official vehicles and personnel on assignments.

“President Tinubu is pointing out the need to change from the old ways of doing things in Nigeria,” Idris said.

He noted that the cost-saving measures, though seemingly small, are expected to make a significant impact.

He also stated that the recent renaming of the Ministry of Agriculture and Rural Development to the Ministry of Agriculture and Food Security reflects Tinubu’s commitment to addressing agricultural issues from multiple angles, particularly to improve food security.

On security, Idris said Tinubu’s administration has continued to acquire resources for security agencies and support personnel welfare, while consultations on establishing state police are ongoing.

Idris also urged Nigerians to responsibly use social media to portray the country positively, emphasizing collective responsibility in shaping Nigeria’s image.

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