Find a solution to our unbearable suffering

Samuel Okudzeto Ablakwa, the Member of Parliament from North Tongu, has requested that the Akufo-Addo-led administration produce an urgent economic rescue plan to alleviate the country’s high cost of living.

Ghana’s collective painful agony, in his opinion, is now unbearable.

He tweeted on May 11, 2022, in reaction to the increasing cost of goods and services as indicated in the latest inflation figures released by the Ghana Statistical Service (GSS) saying “Did Prez Akufo-Addo lead KUMEPREKO demonstrations against Prez Rawlings only to become President and create SIEMEPREKO economic conditions? The mass excruciating suffering is now unbearable. Govt must present an urgent economic rescue plan to address the cost of living crisis”.

According to the GSS, the national year-over-year inflation rate in April 2022 was 23.6 per cent, up 4.2 percentage points from 19.4 per cent in March 2022.

The GSS reported on Wednesday, May 11, 2022, that month-on-month inflation was 5.1 per cent between March and April 2022.

Transport, Household equipment and routine maintenance, Food and Non-Alcoholic Beverages, and Housing, Water, Electricity, Gas, and Other Fuels all had inflation rates higher than the national average of 23.6 per cent, with Transport having the highest rate of 33.5 per cent.

Food inflation this month was 26.6 per cent, which is greater than both last month’s 22.4 per cent and the previous 12-month average of 13.5 per cent. However, the percentage of food inflation to total inflation fell from 51.4 per cent in March 2022 to 50.0 per cent in April 2022.

Overall, food inflation was 5.8% in April, higher than the national 12-month rolling average of food inflation (2.0%) and the rate in April 2021 (2.3 per cent). Fruit and Vegetable Juices had the highest monthly inflation among the 15 food subclasses (15.3 per cent).

In April 2022, non-food inflation increased on a year-over-year basis, compared to March 2022. (from 17.0 per cent to 21.3 per cent). Only one of the 12 Non-Food Divisions had a rolling 12-month average higher than the divisions’ year-over-year inflation for April 2022.

Also, in April 2022, the highest rate of inflation was observed in the Transportation Division (33.5 per cent).

Overall year-on-year inflation in the regions ranged from 18.4 per cent in the Upper East to 26.7 per cent in the Central (See Figure 3). The Central Region had the highest monthly inflation rate once again (8.8 per cent). Positive month-over-month growth was seen in every region, the statistical service has said