Many Ghanaians feel that the inflation figures released by the Ghana Statistical Service (GSS) do not reflect the true rise in prices they experience. People often argue that prices are much higher than what GSS reports. While there is no evidence of errors or falsification, the confusion stems from how inflation is calculated.
The inflation rate reported by GSS is a national average, meaning it covers the entire country. This means that the actual inflation people experience can vary depending on where they live and what they buy. For example, in some regions or for certain products, inflation could be much higher than the national average.
For November 2023, the national average inflation rate was 23%. However, GSS data shows that 20 commonly purchased items had inflation rates above 45%, almost double the national figure. Staples like beans saw an inflation rate of 89.8%, while ginger, dried red pepper, garden eggs, and onions had inflation rates between 61.7% and 86.6%. If you frequently buy these items, your personal inflation rate would feel much higher than 23%.
Other essential items like yam, okro, pork, and palm fruits recorded inflation rates between 48.6% and 58.6%, significantly higher than the national average. So, if you regularly purchase these products, it’s natural to feel like the inflation rate is higher.
Your location also plays a role in your personal inflation rate. The Upper East region, for instance, had the highest inflation rate in the country at 44.9%, while the Eastern region had a much lower rate of 18.7%. This means someone living in the Upper East would experience higher price increases compared to someone in the Eastern region.
The GSS publishes a national average, but it’s important to understand that individual experiences can vary. The GSS also provides additional data on specific items to help people better understand how inflation affects them personally.
