A member of the National Democratic Congress (NDC) communications team in the Upper East Region, Francis Adingo, says recent economic indicators point to growing stability in Ghana’s economy, particularly in relation to inflation.
Speaking on A1 Radio, Adingo explained that a decline in inflation should be understood as a sign that prices of goods and services are stabilising, even if they do not immediately decrease.
“Inflation dropping does not necessarily mean that the prices of goods and services will fall. It means that if you buy an item today at a certain price, when you return in a week or two, the price is likely to remain the same or increase only marginally,” he said.
According to him, the current trend marks a shift from previous periods of high inflation, when prices rose sharply and frequently, making it difficult for households to plan their spending.
“At a time when inflation was around 54 percent, you could buy something today and by the next day the price had increased significantly. That made planning very difficult for households,” he said.
Adingo argued that the relative stability in prices indicates that the economy is gradually recovering, attributing the improvement to what he described as prudent economic management by the government.
He also pointed to other economic indicators, including interest rates and exchange rate movements, as signs that the economy is on a steady path despite global pressures.
“When the fundamentals are strong, the exchange rate stabilises. Key indicators such as inflation and interest rates show that the economy is on course,” he added.
Adingo maintained that although challenges remain, the overall direction of the economy suggests recovery and improving investor confidence.
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