2020 Budget: 2019 seen slowest-ever rise in prices

The year 2019 has seen the slowest-ever rise in the price of goods and services in Ghana, the Minister of Finance, Ken Ofori-Atta has disclosed.

The Minister of Finance made this known at the presentation of the 2020 Budget on Wednesday, 13 November 2019.

He indicated that the country recorded the lowest rate of inflation in 27 years – from 15.4 per cent in December 2016 to 7.6 per cent in September 2019.

Mr. Ofori-Atta stated: “Economic growth has doubled under President Akufo-Addo, rebounding strongly from 3.4 per cent in 2016, the lowest GDP rate since 1994 averaging 7 per cent.

“Inflation rate has fallen from 15.4 per cent in December 2016 to 7.6 per cent in September 2019, registering the lowest rate in 27 years Mr. Speaker, which makes 2019 the slowest-ever rise in the prices of goods and services in Ghana during the entire history of the fourth Republic. Yes, Mr. Speaker, 2019 has been good for Ghana because when inflation slows down, everybody benefits.”