The 2008 presidential candidate of the Convention Peoples’ Party (CPP) Dr. Paa Kwesi Nduom, is advising Ghanaians to be cautious in their optimism about the prospects of the downward trend of inflation.

The Ghana Statistical Service announced a single digit inflation of 9.52 for the month of June. It is the first time in many years that the country has achieved a single digit inflation.

Speaking on Asempa FM’s current affairs programme Ekosii Sen on Wednesday, Dr. Nduom said this is not the first time that Ghana has achieved single inflation digit, citing instances under the first NDC government and the first term in office of the erstwhile NPP, saying they both failed to maintain it.

It is based on this that he is calling on the government to put in measures to maintain the inflation rate at a single digit and even decrease it further.

Dr Nduom said even though he welcomes the 9.52 inflation as good news, he cautioned that a lot of things need to be done for the ordinary person to benefit.

Among others, he is urging the government to impress upon the banks to reduce their interest rates.

Dr Nduom also stated that the gain in inflation would be meaningless if government fails to match it with good pay for its workers, as well as helping the local industries to grow.

When asked about his opinion on the World Bank Country Director’s comment about the state of Ghana’s economy, which he said was doing well, Dr Nduom asked Ghanaians to ignore comments from the Breton Woods institutions because they have not been consistent and objective about the government’s performance. He said the World Bank and the IMF usually make statements that would impress the government of the day.

Story by Isaac Essel/