Teacher of Applied Economics at the Johns Hopkins University-USA Steve Hanke, has exposed Ghana’s ongoing expansion rate, showing that it is misguided his assessments.
The Ghana Statistical Service on August 10 reported that the expansion rate for July moved to an unequaled high of 31.7 percent, addressing a 1.9 percent increment among June and July 2022.
Government Statistician Prof. Kobina Annim talking with columnists in Accra said, “We made this according to two points of view, the food and non-food expansion and from a homegrown and imported point of view. From the food and non-food expansion we recorded food expansion of 32.3% and 31.3% for non-food expansion.”
“According to the homegrown viewpoint we recorded 29.2% and imported expansion of 31.3%.”
In any case, the eminent financial specialist, in a Twitter response portrayed the ongoing expansion rate for Ghana as fiction and way off as it should be 61.17%/year per his estimations.
“In Ghana, the authority expansion rate has flooded to a 19-year high of 31.70%/yr. That is FICTION. WAY OFF. Today, I precisely measure expansion in Ghana at an out of this world 61.17%/yr, ~1.9x the fake authority rate,” he composed.
In #Ghana, the official inflation rate has surged to a 19-year high of 31.70%/yr. That’s FICTION. WAY OFF. Today, I accurately measure inflation in Ghana at a sky-high 61.17%/yr, ~1.9x the phony official rate. pic.twitter.com/uRvy4sDTWX
— Steve Hanke (@steve_hanke) August 11, 2022