Despite inflation dropping from 54% to 21%, the cost of living has risen
Patrick Opoku Assuming, an associate professor at the University of Ghana Business School, has criticized Ghana's over-reliance on macro-data to assess economic growth.
He argues that not analyzing individual sectors leads to a disconnect between reported growth and citizens' experiences.
Despite inflation dropping from 54% to 21%, the cost of living has risen by 43%, highlighting the gap between economic indicators and reality.
He emphasizes the need for disaggregation of data to understand the true impact of growth, noting that sectors like mining and ICT, which have thrived, do not directly benefit the average Ghanaian. His comments come amid discussions on the economy's influence in the upcoming 2024 elections.
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