food prices

World Bank Africa Pulse Report: Ghana’s Inflation 4th Highest In Sub-Saharan Africa
05 Oct

World Bank Africa Pulse Report: Ghana’s Inflation 4th Highest In Sub-Saharan Africa

Wontumi1Business, , , ,
Ghana’s inflation of 40.1% is the 4th highest in Sub-Saharan Africa in 2023, the World Bank October 2023 Africa Pulse Report has revealed. Zimbabwe is 1st with more than 80% inflation and is followed by Sudan (60%) and Sierra Leone (42%). According to the report, food and energy prices are still contributing to driving headline inflation in most countries in the region. By July 2023, it said, nearly half of the countries in the region with monthly available information on food prices (20 of 41 countries) had double-digit year-on-year rates of food inflation, with the fastest increases experienced in Burundi, Ghana, Malawi,…
Read More
Nearly 850,000 Individuals Pushed Into Poverty In 2022 – World Bank
20 Jul

Nearly 850,000 Individuals Pushed Into Poverty In 2022 – World Bank

Wontumi1Business, ,
Nearly 850,000 individuals were pushed into poverty in 2022 due to rising prices. According to the latest World Bank Economic Update, the considerable rise in prices worsened food insecurity in Ghana, particularly toward the end of 2022. It explained that food insecurity increased toward the end of 2022, correlating with the highest inflation rates. “The number of food-insecure individuals rose, with higher prevalence rates in the post-harvest season.  Food insecurity at crisis and emergency levels is expected to remain elevated through mid-2023”. The report furthered that macroeconomic crises -and particularly inflation- hurt the poor first and foremost, thus it is…
Read More
Government Advised To Assess Surging Prices Of Food As Inflation For June 2023 Increases Marginally To 42.5%
12 Jul

Government Advised To Assess Surging Prices Of Food As Inflation For June 2023 Increases Marginally To 42.5%

Wontumi1Business,
The Government Statistician, Prof. Samuel Kobina Annim has advised policy makers to take a critical look at factors contributing to the increase of food inflation. He pointed out that food inflation has consistently seen an increase with about 20 percentage point compared to non-food inflation. Speaking to Journalists after announcing the Inflation for June which increased marginally to 42.5 percent compared to 42.2 percent in May, Prof. Annim announced that prices of common staple food such as vegetables and fish continue to record an increase over the period. “At the minimum we see a widening of the gap between food…
Read More