Ranking Member of Parliament’s Economy and Development Committee, Kojo Oppong Nkrumah, has cautioned government against presenting declining inflation figures as a sign that Ghanaians are experiencing lower prices in the market.

His remarks come ahead of the presentation of the 2026 Mid-Year Budget Review, during which the Minister for Finance, Dr Cassiel Ato Forson, is expected to deliver the Mid-Year Review of the Budget Statement and Economic Policy of the Government of Ghana for the 2026 financial year.

Speaking at an NPP press conference on July 22, the Ofoase Ayirebi MP explained that a fall in inflation only indicates that the pace of price increases has slowed and does not mean the prices of goods and services have fallen.

“Falling headline inflation never means falling prices. Prices have been rising, only more slowly,” he said.

According to him, recent trends show renewed pressure on consumers, with inflation beginning to pick up after previous declines.

He argued that the government must look beyond headline inflation figures and focus on the real impact of economic conditions on households.

Cost of living remains a concern

The former Ofoase Ayirebi MP said many Ghanaians continue to struggle with the high cost of essential goods despite improvements in some macroeconomic indicators.

He stressed that the Mid-Year Budget Review must provide practical measures aimed at easing the burden on citizens rather than relying only on statistical improvements.

Mr Oppong Nkrumah also linked inflation pressures to broader economic issues, including exchange rate movements and fiscal management.

He said government must explain how it intends to maintain economic stability while protecting household incomes.

Call for transparency

The former minister urged the Finance Minister to provide a clear assessment of inflation trends and their impact on ordinary citizens when he presents the Mid-Year Budget Review.

He said the true measure of economic recovery should be reflected in the daily experiences of Ghanaians, including the prices they pay at markets and shops.

“The numbers must translate into better living conditions for the people,” Mr Oppong Nkrumah added.