Approximately 855,000 Ghanaians were pushed into poverty in 2022 due to high inflation rates and its associated impact on food prices, electricity tariffs, general goods, and services
This is contained in the World Bank Ghana Economic Update report.
According to the report, the impact of inflation on welfare is simulated by relying on the first quarter of the Annual Household Income and Expenditure Survey of 2022, collected by Ghana’s Statistical Service.
The figures are expected to remain high this year, as inflation continues to rise.
From Accra, Atiewin Mbillah-Lawson reports.