Inflation Falls but Food Prices Remain High; Government is “Massaging” the Cedi — Miracles Aboagye
Bawumia Campaign Director says government is artificially propping up the cedi while food prices and economic hardship persist
- Miracles Aboagye says Ghana’s current economic situation is a reversal, not a real reset, despite cedi appreciation
- Prices of essential items like milk, sachet water, and Milo continue to rise, raising questions about government management
- The government is accused of propping up the cedi through gold sales and limited capital expenditure instead of investing in industries that create jobs and growth
Dennis Miracles Aboagye, Director of Communications for the Bawumia Campaign, has raised concerns about Ghana’s economic performance despite reports of declining inflation, suggesting that the government is artificially “massaging” the currency rather than investing in real sectors.
Speaking on the Ghana Se Sen Morning Show on Lawson TV with Kwame Tanko, Miracles Aboagye described the current state of the economy as a reversal, not a reset.
“This is the first time in Ghana’s history that the cedi has appreciated against the US dollar, but ordinary Ghanaians are still experiencing hardship,” he said.
He questioned the discrepancy between reported inflation rates and soaring food prices, pointing out that essential items like milk, sachet water, and Milo continue to rise despite the decline in inflation.
“If inflation is declining but food prices keep going up, then there is something hidden. We need answers from the government,” he stated.
Miracles Aboagye attributed the cedi’s apparent strength to the government’s approach in 2025, where only 30% of allocated capital expenditure was spent, forcing the authorities to sell gold and pump dollars into the economy.
While this may temporarily strengthen the currency, he argued, it does not support the growth of industries or real economic sectors. “Inflation will only come to zero if you fail to spend. But failing to invest in the real sectors creates hardship for citizens,” he explained.
He emphasized that the NPP critique is not about wishing the government ill, but about advocating for proper economic management.
“The NDC does not have to fail for the NPP to succeed, but we cannot allow continued mismanagement that hurts ordinary Ghanaians,” Aboagye said.
The Bawumia Campaign director called for greater transparency in government spending and investments in sectors that will genuinely support jobs, industry, and sustainable growth, warning that superficial measures to stabilize the currency will not solve underlying economic challenges.
