‘No teacher of economics can teach and use gari as an inferior good in economics class’ – Beatrice Annan

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Beatrice Annan, a member of the NDC communications team, has voiced her concerns regarding President Akufo-Addo’s assertions that Ghana’s macro inflation indicator is heading in the right direction during the State of the Nation Address.

Beatrice Annan highlighted the escalating cost of basic commodities, including gari, which was traditionally considered an inferior good in the economics class.

During an appearance on Good Morning Ghana, monitored by GhanaWeb.com, Annan stated, “If you engage in a policy like Planting for Food and Jobs and you move food inflation from 8.4 per cent to 23 per cent and you still want to tell the people of Ghana that inflation or the macro inflation indicator is on the right direction, then you don’t know what you are talking about.”

She further emphasized the impact of rising food prices on household budgets, particularly citing the soaring cost of gari.

“Today, no teacher of economics can teach and use gari as an inferior good because the ‘olonka’ of gari is 25 Ghana cedis. So if we have Planting for Food and Jobs and gari, which is done in the villages, is moving from 5 Ghana cedis to 25 cedis, then you cannot say that your macro indicators are moving in the right direction.”

President Akufo-Addo’s appearance before parliament on February 27, 2024, as mandated by Article 67 of the 1992 Constitution, provided updates on various sectors, including security, governance, education, health, infrastructure, and anti-corruption efforts.

 

ghanaweb.com

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