Cement, rice, and iron rod prices are all declining – Bawumia touts economic progress

The Flagbearer of the New Patriotic Party, Dr Mahamudu Bawumia, has asserted that recent government measures have contributed to macroeconomic stability.

Dr Bawumia highlighted the notable decrease in inflation and the reduction in prices of goods and services as clear indicators of the government’s dedication to rejuvenating the Ghanaian economy.

Addressing attendees at a National Thanksgiving service held at the NPP Headquarters in Accra, Dr Bawumia expressed optimism about the economic trajectory.

Acknowledging the challenges posed by the post-Covid-19 era globally, Dr. Bawumia underscored Ghana’s resilience amid the economic and social shocks of the pandemic.

He emphasized the need for concerted efforts to alleviate the burdens carried into 2023, praising the progress made with gratitude to God.

“We are already aware that the post-Covid-19 era remains a difficult era in the history of the world and many countries across the globe are still recovering from the economic and social shock the pandemic created, Ghana has been no exception. As a party in power at such a difficult period in our global history, we can only thank God almighty for how far he has brought us.

“We have to work extra hard to lessen the burden that crossed 2023 with us. We started the year with an inflation rate of 56. 3 percent in January. As we speak the rate for November is 26.4 per cent. A significant drop and when you look at inflation, it has come down.

Highlighting specific economic achievements, Dr Bawumia “But what is remarkable is that prices of items that we normally buy are falling, cement prices are falling, fuel prices have fallen, cooking oil prices are falling, iron rod prices, rice prices are falling, maize prices are falling and this is telling us that something is happening because normally we see increases but we are seeing a decline in pricing.”