In a Facebook post dated November 5, 2022, Mahama observed that it was particularly worrying that price of items were going up by the hour in some cases.
"Prices of items including everyday medication, salt, gari and cooking oil, are constantly on the rise. If you do not buy an item at a particular point in time, you are likely to find that the price has significantly increased a few hours later.
"Small entrepreneurs are frustrated as they break their backs to keep their businesses open against great odds. This is not just an installment in cyclical hardships, and we should not pretend that it is," his post read.
High inflation and a depreciating cedi are two of the most visible signs of a distressed economy.
Mahama has through social media posts and public lectures called on government to take responsibility and reverse the tide in some cases proffering possible solutions.
What Akufo-Addo said about Ghana being in a crisis
Akufo-Addo in his October 30 address on the economy blamed the Covid-19 pandemic and the ongoing Russia-Ukraine war as causes for the country’s economic woes.
While admitting that the country was in crisis and rallying support for various government interventions to stem the tide, he said the situation was not peculiar to the country as many nations across the world were also experiencing difficulties.
“We are in a crisis, I do not exaggerate when I say so. I cannot find an example in history when so many malevolent forces have come together at the same time.
“But, as we have shown in other circumstances, we shall turn this crisis into an opportunity to resolve not just the short-term, urgent problems, but the long-term structural problems that have bedeviled our economy,” he said.
But like before, President Akufo-Addo blamed the Covid-19 pandemic and the ongoing Russia-Ukraine war as causative factors for the economic woes.
Former president, John Dramani Mahama