You must be suffering from “money illusion” if you think slowing inflation means a declining cost of living – Kwakye

Dr. John Kwakye, Director of Research at the Institute of Economic Affairs (IEA), has clarified that a slowing inflation rate does not mean prices are dropping, but rather increasing at a slower pace.

He warned against "money illusion" and misinterpreting the data.

Ghana's inflation rate dropped to 22.8% in June, a 0.3% decrease from May, with some divisions experiencing higher inflation rates.

The Upper East region had the highest inflation rate at 35.2%, while Oti region had the lowest at 12.5%.