Inflation: Work with gov’t to reduce food prices – John Kwakye tells BoG

Dr. John Kwakye, Director of Research at the Institute of Economic Affairs, argues that the Bank of Ghana's 27% policy rate does not influence the current inflation, primarily driven by rising food prices, which increased to 21.5% in September from 20.4% in August.

He advises against maintaining a tight monetary policy and suggests collaboration with the government to address food price issues. Meanwhile, Bank of Ghana Governor Dr.

Ernest Addison emphasizes the bank's commitment to achieving single-digit inflation and monitoring economic trends while maintaining a suitable monetary-fiscal policy mix for sustainable growth.

The IMF reports positive economic growth and progress in Ghana’s economic reforms.