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Inflation rate: 'Deceptive' Ghana Statistical Services’ figures bogus; it’s 145.43% not 40.4% — US economist Prof. Hanke

Headlines Inflation rate: 'Deceptive' Ghana Statistical Services figures bogus; its 145.43 not 40.4 — US economist Prof. Hanke
DEC 8, 2022 LISTEN

Prof. Steve H. Hanke, an American global economic analyst at the Johns Hopkins University in Baltimore, Maryland has waded into Ghana’s inflation rate.

The 40.4% announced by the Ghana Statistical Service (GSS) as the inflation rate recorded in the month ending in October 2022 is, according to Prof. Hanke, bogus and deceptive.

He indicated that the country is currently suffering from a higher inflation rate of what he described as a "stunning 145.43 per cent," three times Ghana’s official report.

The international economist, who has been studying Ghana’s economic indicators for some time now, claimed that the Ghana Statistical Service (GSS) has been deceiving Ghanaians.

“Ghana is in 4th place in this week's inflation table. On Dec 1st, I measured Ghana's #inflation at a stunning 145.43%/yr--that's 3.6x Ghana Statistical Services's reported official rate of 40.4%/yr. The "official" rate is completely bogus," he stated in a tweet on Wednesday, December 7.

Isaac Donkor Distinguished
Isaac Donkor Distinguished

News ReporterPage: IsaacDonkorDistinguished

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