Ghana’s Inflation Drops to 12%: BoG Announces New Policy Measures — But Can We Really Feel It at the Market?
Last week, while standing in line at the Madina market to buy some tomatoes and kontomire, a woman behind me muttered something that made everyone chuckle. She said, “They say inflation has dropped o, but these prices still dey shock me like ECG light.” We all laughed, but it stuck with me.
Because just a few days before that, I saw the news: Ghana’s inflation has dropped to 12%. A big deal, right? The Bank of Ghana even came out with a fresh set of policy measures, touting progress and stability. But I couldn’t help but think—where exactly is this progress showing? 'Cause I’m still paying ₵10 for five sad-looking tomatoes.
Don’t get me wrong. A drop in inflation is technically good news. It means the rate at which prices are rising has slowed down. And that’s important. But in real life—at the market, at the pump, at that little chop bar behind your office—it still feels rough. I mean, when you have to mentally calculate before ordering kelewele, you know something’s not quite adding up.
I might be wrong, but it often feels like these announcements are more about figures than feelings. Because while the economists are celebrating graphs and percentages, the average person is just trying to figure out how to make ₵100 last till Friday.
And it’s not just the market. Let’s not forget the other elephant in the room—the floods. Accra has been hit hard again. Roads are submerged, shops are ruined, homes are wrecked. So while we’re talking about economic recovery and smart monetary policies, many people are literally watching their belongings float away. Can you really enjoy “stable inflation” if your shop just got flooded?
In my experience, good economic news doesn’t always reach the ground fast. It’s like pouring water on cement—it takes time to soak in. And right now, a lot of us are still standing on dry patches, waiting.
The Bank of Ghana says their new policy measures will “strengthen
macroeconomic stability” and “restore investor confidence.” Cool. I’m all for that. But maybe what we also need are policies that protect people from the daily shock of living—policies that make tomatoes cheaper, rent more manageable, and basic needs easier to access.
I guess what I’m saying is this: it’s great that inflation is dropping. But until we can feel it in our pockets, our plates, and our peace of mind, it’s just another headline.
So here’s a thought—what would it look like if economic progress in Ghana wasn’t just something we read about, but something we could actually live?
Something to chew on... preferably with a bowl of jollof that didn’t cost a fortune.
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