International Economist Says Ghana’s Official Inflation Rate Is “Bogus”

Steve Hanke, an international economist has tagged Ghana’s official inflation rate as bogus in his recent tweet.

According to him, Ghana’s inflation rate is way higher than what has been put out by the country’s statistical service.

“Today, I measure inflation in GHA at 80.52%/yr, 2.5x the bogus official rate”, he said in a tweet analysing the inflation rate of the country.

The John Hopkins economist believes the rate at which the ocuntry’s inflation is rising can be controlled if only Ghana instals a currency board- a suggestion he has been making for a while now.

The Ghana Statistical Service (GSS) reported that the inflation rate in the country stands at 31.7%.

Source: Fuseini

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