Despite 5.2% Inflation Rise, Ghana’s Economy Is Better Under NDC — Apana
Bolgatanga East Constituency Youth Organiser Aspirant says current economic indicators show government is restoring stability
A member of the National Democratic Congress (NDC) Upper East Regional Communications Team and Bolgatanga East Constituency Youth Organiser aspirant, Vitus Akoligeya Apana, has defended the government’s handling of the economy following the latest increase in Ghana’s inflation rate to 5.2 percent.
Mr Apana argues that despite the marginal rise in inflation, the broader economic picture remains significantly better than the situation Ghana experienced in previous years, when inflation reached historically high levels.
According to figures from the Ghana Statistical Service (GSS), Ghana’s year-on-year inflation rate increased from 5.0 percent in August 2026 to 5.2 percent in September 2026. The latest figure represents a 0.2 percentage-point increase but remains 4.2 percentage points lower than the 9.4 percent recorded in September 2025. ([Reuters][1])
Mr Apana says the latest figure should therefore be viewed within the broader trajectory of inflation and economic conditions rather than in isolation.
He contends that the government has inherited and managed an economy that had previously experienced severe inflationary pressures, arguing that the substantial reduction in inflation demonstrates progress in restoring macroeconomic stability.
Inflation far below levels recorded during economic crisis
Historical figures show the extent of the change.
Ghana’s inflation reached 54.1 percent in December 2022, according to data cited by the Bank of Ghana and reported by Reuters. By December 2025, inflation had fallen to 5.4 percent, representing a dramatic reduction in price-growth pressures. ([Reuters][2])
Inflation was also recorded at 21.5 percent in September 2024, before falling to 9.4 percent in September 2025 and subsequently to 5.2 percent in September 2026. ([Reuters][3])
Mr Apana says the figures demonstrate what he describes as a significant turnaround in the country’s economic fortunes.
He argues that while Ghanaians continue to face high living costs in some areas, the pace at which prices are increasing is considerably lower than during the height of the economic crisis.
“Things are better now under this government, and the figures speak for themselves,” Mr Apana said in his assessment of the latest inflation data.
He believes the government’s policies are gradually creating a more stable economic environment for businesses and households.
Food and services remain areas of concern
The latest figures, however, also show that the economic recovery has not eliminated price pressures.
Food inflation increased from 3.0 percent in August to 4.0 percent in September 2026, while non-food inflation declined from 6.8 percent to 6.2 percent.
Services inflation remained particularly high at 8.3 percent, compared with 4.2 percent for goods. Locally produced items recorded inflation of 6.4 percent, while imported items recorded 2.4 percent. ([Today Ghana][4])
The figures suggest that although overall inflation is significantly lower, households may still experience considerable increases in the prices of particular goods and services.
For instance, the GSS data showed that fresh tomatoes recorded a year-on-year price increase of 153.4 percent, while ginger increased by 100.4 percent and shrimps by 62.8 percent. At the same time, some commodities recorded significant price reductions, including lime, maize and local rice. ([Today Ghana][4])
Mr Apana nevertheless maintains that the overall trend is encouraging and should be considered when assessing the government’s economic performance.
Apana questions Bawumia’s economic lectures
Turning his attention to the opposition New Patriotic Party (NPP), Mr Apana questioned why the party’s presidential candidate, Dr Mahamudu Bawumia, has not continued with the extensive economic lectures and public presentations on the Ghanaian economy that characterised his political messaging in previous years.
According to Mr Apana, the reduced emphasis on such economic lectures could be interpreted as an indication that the economic situation has changed considerably.
He questioned why Dr Bawumia, who previously spoke extensively about the economy and offered economic prescriptions, was no longer undertaking similar engagements with the same intensity.
Mr Apana suggested that the current economic indicators provide the NDC with grounds to argue that the economy is moving in a more positive direction.
Recovery does not mean challenges have disappeared
While defending the government, Mr Apana acknowledged that Ghanaians still face economic challenges and that the reduction in inflation does not automatically mean that prices have returned to their previous levels.
Inflation measures the rate at which prices are increasing, meaning a fall in inflation does not necessarily translate into a fall in the prices of goods and services already affected by previous increases.
He, however, insists that slowing inflation provides a more favourable environment for households, businesses and investors compared with periods of extremely high inflation.
The latest GSS figures also place Ghana’s 5.2 percent inflation rate below the Bank of Ghana’s medium-term target band of 8 percent, plus or minus 2 percentage points. ([Graphic Online][5])
Mr Apana says the government must therefore continue implementing policies that will protect the gains made, reduce the cost of living and ensure that economic growth translates into tangible improvements in the lives of ordinary Ghanaians.
He urged Ghanaians to assess the government not only on individual price increases but also on broader economic indicators, including inflation, currency stability, interest rates, growth and the overall macroeconomic environment.
For Mr Apana, the movement from inflation levels above 50 percent during the height of Ghana’s economic crisis to the current 5.2 percent represents what he describes as evidence of substantial economic recovery under the NDC administration.
Source: Mybluewavesonline.Com|Muarice Duncan |Bolgatanga
