Sammy Gyamfi’s claim that Ghana’s inflation rate is highest in West Africa false

The National Communication Officer of the National Democratic Congress (NDC), Sammy Gyamfi, was a guest on Metro TV’s morning show on July 20.

The topic for discussion was on misuse of funds by public officials. During the discussion, he said that Ghana has the highest inflation rate in West Africa and the third highest rate on the African continent.

Fact-Check Ghana has verified the claim and presents the findings below.

Claim: “As we speak, Ghana’s inflation rate for June this year stands at 42.5% and is the highest in the whole of West Africa and the third highest in the whole of Africa.’’

Verdict: False!

Explanation: In the month of June in West Africa, Ghana indeed recorded one of the highest inflation rates at 42.5%. But the country’s inflation rate is not the highest in West Africa, contrary to Sammy Gyamfi’s claim.  Sierra Leone recorded an inflation rate of 44.81% in June. This makes Sierra Leone the West African country with the highest inflation rate in the sub-region currently.

On July 18, Statistics Sierra Leone, the central authority for the collection, processing, analysis, and dissemination of statistical information in Sierra Leone, published a press release on Consumer Price Index for the month of June reporting an inflation rate of 44.81% for the month. Below is a table of the latest inflation rates of countries in West Africa

Country Inflation rate                       Month
Sierra Leone 44.81% Jun/23
Ghana 42.5% Jun/23
Nigeria 22.79% Jun/23
The Gambia 17.8% Jun/23
Guinea-Bissau 10% May/23
Liberia 9.43% Apr/23
Mauritania 9.4% Jun/23
Guinea 7.91% Jun/23
Senegal 7.5% Jun/23
Togo 6% Jun/23
Benin 4.3% Jun/23
Cote d’Ivoire 4.1% Jun/23
Cape Verde 3.5% Jun/23
Mali 3% May/23
Niger 1.67% Jun/23
Burkina Faso -0.7% Jun/23

Source: Compiled from Statistical Services and Bureaus of the various countries

In Africa, Zimbabwe comes first with an inflation rate of 175.8% for June 2023. Sudan follows with 63.3% inflation rate, the latest compiled by the Central Bureau of Statistics for the month of February. Sierra Leone’s 44.81% is the third highest in Africa. Ghana’s 42.5% inflation rate for June ranks 4th in Africa.

From the above, Ghana doesn’t presently have the highest record of inflation in West Africa nor is it the third country with the highest inflation in Africa. This makes Sammy Gyamfi’s claim false.

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