Minority questions impact of falling inflation on cost of living

The Minority in Parliament has questioned the extent to which Ghana's declining inflation rate has improved the financial circumstances of ordinary households, arguing that the headline figures do not adequately reflect the cost pressures facing consumers.

Ranking Member on Parliament’s Finance Committee, Dr Mohammed Amin Adam, raised the concerns when he addressed the media on behalf of the Minority on Tuesday, November 10, ahead of the presentation of the 2027 Budget.

He said economic performance should be measured by its impact on people's purchasing power, real incomes and ability to afford essential services, rather than relying solely on improvements in national economic indicators.

The Minority cited increases in electricity and water tariffs, petroleum prices and public transport fares. Dr Amin Adam referred to electricity tariff adjustments between April 2025 and July 2026, a 15.92 per cent increase in water tariffs in January 2026 and an 8 per cent increase in transport fares from September 26, 2026.

He also questioned the relationship between the reported 5.5 per cent inflation rate and the cost of essential services, including electricity, transport, rent and water.

“The 5.5 per cent is held down by food. It is not the bill a family pays every month for transport, rent, light, water and school,” he said.

The Minority is urging the Finance Minister to use the 2027 Budget to address what it describes as the gap between improvements in headline economic indicators and the financial difficulties households continue to experience.