Ghana’s Food Inflation is not 122 Percent, Mahama Got it Wrong!

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Economics Foodstuff Hikes
Economics Foodstuff Hikes

On the 27th October, 2022, former President John Dramani Mahama delivered a lecture to Ghanaians at the University of Professional Studies, Accra (UPSA) Auditorium. The lecture was titled “Building the Ghana We Want”.

During his presentation, under the paragraph which captured “Ghana’s Economic Situation Today”, he, knowingly or unknowingly, presented a false information on the Country’s Food Inflation and the Planting for Food and Jobs (PFJ) Policy, and through that, painted a negative and dreadful impression in the minds of many citizens in Ghana and around the World about the Agricultural Sector of the Nation.

This portion read; “Ghana has the highest food inflation in the World at 122%, notwithstanding the much touted but grossly mismanaged Planting for Food & Jobs Programme”.

Aside the entire speech getting very wide publication by both digital and traditional media outlets across the World, the former President in furtherance got the said section on Food Inflation and PFJ policy re-echoed and published on all his social media platforms, as well as, on numerous digital and traditional media outlets.

Aside the negative image this distortion of common knowledge and fact has attracted to the Country’s Agricultural sector and its Sector Minister, Dr. Owusu Afriyie Akoto, it is as well very ridiculing and embarrassing for the image of Ghana on the World stage for a whole former President and his army of loudmouth and all-knowing egoistic economic advisors to be ignorant about such a falsehood, make a bold public presentation on it, and as well have it captured on his personal social media handle which has global monitoring.

It is worthy of note that, the Food Inflation of Ghana is not the highest in the World, and also, it is not 122%. In fact, the current highest Food Inflation in the World is not 122%.

More over, according to the Global Food Security index (GFSI) African ranking, Ghana has moved from the 6th position in 2016 to the 4th position in 2021 to the 3rd position in 2022, and also, the Agric Sector of the Country recorded a growth of 8.4% in 2021, representing the highest growth in the history of Ghana followed by 7.6% in 2008 under former President John Agyekum Kufuor. The second highest growth of 7.6% was recorded due to the remarkable and result-oriented policies and measures put in place under the administration of former President Kufuor to spur the growth of the Agricultural Sector under him.

Find below the breakdown and analysis of the Global and Ghana’s Food Inflation.

Food inflation data of Ghana from May, 2022 according to Ghana Statistical Service (GSS) and World Bank Food Security update

May – 30.1%

June – 30.7%

July – 32.3%

August – 34.4%

September – 37.8%

Food Inflation – World Food Security Report (August, 2022)

Zimbabwe: 353%
Lebanon: 198%
Venezuela: 131%
Iran: 90%
Türkiye: 89%
Sri Lanka: 85%
Argentina: 80%
Moldova: 38%
Suriname: 37%
Rwanda: 35%

Food Inflation – World Food Security Report (September, 2022)

Zimbabwe: 340%
Lebanon: 208%
Venezuela: 109%
Türkiye: 92%
Argentina: 87%
Sri Lanka: 86%
Iran: 84%
Rwanda: 41%
Ghana: 38%
Moldova: 37%

The above Food Inflation reports by GSS and World Bank Food Security update indicate that Ghana does not have a Food Inflation of 122%, and also, the Country with the highest Food Inflation in the World and Sub-Sahara Africa is not Ghana, but, it is Zimbabwe with a Food Inflation rate of 340% as at September, 2022.

To further with more clarifications, as reported by the 2022 World Bank’s Africa Pulse Report and republished by lots of digital and traditional media outlets, the 122% is only Ghana’s Food Inflation percentage growth rate between January and June, 2022 and not Ghana’s current Food Inflation rate or for any of the previous months.

Find below the breakdown of the Percentage Growth Rate of the Food Inflation between January and June for Ghana, Rwanda and Zimbabwe.

Ghana

January: 13.7%

June: 30.7%

Percentage Growth Rate: 122%

Rwanda

January: -2.8%

June: 26.1%

Percentage Growth Rate: 1032%

Zimbabwe

January: 63.3%

June: 255%

Percentage Growth Rate: 303%

The above calculations and analysis indicate that the Percentage Growth Rate of the Food Inflation between January and June for Ghana, 122%, is not the highest in the World or the Sub-Sahara Africa because a comparison with that of only two countries in the Sub-Sahara Africa; Rwanda and Zimbabwe, 1032% and 303% respectively, through a random selection are even higher than that of Ghana.

I will in light of this conclude by indicating that the Agricultural Sector under the management of Dr. Akoto has been the best in the history of Ghana.

I will continue by recommending to former President Mahama to pull down his misleading and ridiculing figures and analysis from all his social media accounts. He should, in furtherance, apologize to Ghanaians for the shame and global ridicule he has subjected the name of the Nation, Ministry of Food and Agriculture and Dr. Akoto through, and as well, immediately outrightly retract and get it corrected through all the digital and traditional media outlets that published it.

Thank you.

Nana Kwadwo Akwaa

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