NPP will bring inflation down to single digit if retained in December polls — Finance Minister

Finance Minister Dr. Mohammed Amin Adam has promised that Ghana's inflation rate will return to single digits if the ruling New Patriotic Party (NPP) is re-elected in December.

The Karaga Member of Parliament (MP) said this while speaking at a town hall meeting in Accra on Tuesday, August 6.

Dr. Amin Adam said "If this party continues in government next year, we are determined to bring inflation down to single-digit inflation next year."

The minister pointed to the NPP's past success in reducing inflation between 2017 and 2019 before the coronavirus pandemic.

“The rate of inflation, headline inflation in 2015 was 17.7 per cent. In 2016, it came to 15.4 per cent. In 2017 when we took government, inflation came down further to 11.7 percent. A year later, in 2018, it became single-digit inflation at 9.4 percent. In 2019, we had a single digit of 7.9 per cent," he said.

Dr. Adam noted that under the NPP, Ghana experienced its longest period of consecutive single-digit inflation.

He stated "In June this year, 17 to 18 months, we have brought inflation down to 22 per cent. In 17 months, we have more than half inflation from 54 per cent to 22 per cent and we are determined to end this year with an inflation rate of 15%."