Prices of goods and services in the last few months have gone up, in most cases, outrageously beyond the reach of ordinary Ghanaians. And from all statistical indications, the scenario is not about to get better anytime soon.
Cost of living for most Ghanaians is at an all-time high, owing to a spiraling inflationary trend sweeping through the economy.
With food inflation leaning at a tipping point of 22.4percent in March 2022, amid the recent 18.17per cent inflation figure released by the Ghana Statistical service (GSS), tougher times, no doubt, await Ghanaians.
The hardest-hit as usual, are the poor and vulnerable trying to eke out a living under trying circumstances.
Prices of most consumer and non-consumer items have continued to soar out of the reach of the average Ghanaian family, and there are few signs that things will get better anytime soon.
With a double digit inflation rate, the worst since 2009, it means Ghanaians will have to brace to tough times ahead.
The relentless rise in prices acts as a misery multiplier, driving millions deeper into hunger and desperation. Even when food is available, families simply cannot afford it – and soaring prices are pushing a basic meal beyond the reach of millions of poor families who are already struggling to get by.
Not only is food beyond the reach of many Ghanaians, people are also going to pay through their noses for transportation, rent, school and hospital fees, among others.
The reason given by managers of the economy, aside the coronavirus pandemic is the Russian invasion of Ukraine.
In the opinion of this newspaper, although the reasons given may be true, other countries are climbing out of the hole through many interventions.
Russia, which is to be partly blamed for our current situation, has a stable inflation and prices of commodities, have not skyrocketed as we are experiencing.
At the end of it all, the lesson in our opinion is planning, because failing to plan, is planning to fail. We should not always catch cold, when the West sneezes.
