I don't know where Statistical Service got their data from - Bryan Acheampong on food prices and inflation

Accra, Ghana - October 11, 2024 - Ghana's Food and Agriculture Minister, Bryan Acheampong, has expressed strong reservations about the accuracy of recent data released by the Ghana Statistical Service (GSS) on food prices and inflation.

Speaking on Joy News, Acheampong questioned the sources of the GSS's information, stating, "I don't know where Statistical Service collected their data from''.

Acheampong's Ministry has been tracking food prices daily, and their data tells a different story. While maize prices have increased due to the dry spell, prices for other essential food items like plantain, tomatoes, onions, and cassava have dropped significantly - by 27%, 30%, 11%, and 13% respectively.

“I am in every part of this country daily. I get data on farm gate prices of almost 22 commodities that we are tracking. I get market prices of these items daily.”

Bryan Acheampong highlighted the fact that while maize prices have indeed risen due to the dry spell, prices for other essential food items such as plantain, tomatoes, onions, and cassava have dropped significantly.

“Plantain has dropped by 27%, tomatoes by 30%, onions by 11%, and cassava by 13%,” he said, dismissing the idea that food prices are spiralling out of control.

He added, “This is what is happening on the ground… If you go to the market, the prices of everything, except maize, are coming down.”

The Minister highlighted the misunderstanding in how inflation figures are presented. The GSS's method of comparing September 2024 prices to September 2023 prices doesn't reflect the recent downward trend in food prices. Acheampong clarified, "Inflation figures for September are comparing prices from September this year to last year September. But I am telling you, from January to date, the price of food is going down".

Despite the dry spell, food prices have largely stabilized, especially in September. Acheampong noted, "Notwithstanding the announcement of the dry spell, we've seen a significant decrease in the prices of food on the market". He emphasized that his Ministry is committed to providing accurate data and keeping a pulse on Ghana's food systems.

Source: Lead News Online