Claim: Inflation rates of 4 West African countries
Source: Viral message
Researched by Gifty Tracy Aminu
Ghana’s recent record inflation-rate-hike has got many people talking, as the rising cost of living continues to bite.
Concerns about how consumer price inflation for April 2022, reached 23.6%, have led to comparisons between the country’s rising inflation rate and those of 3 other countries in West Africa.
A widely circulated message compares the inflation rate of four countries – Nigeria, Togo, Ivory Coast and Ghana and shows that Ghana has the highest inflation rate.
The viral message shared across social media platforms (Facebook, Twitter and WhatsApp) listed the inflation rates in the 4 countries as follows: “Nigeria – 15%, Togo – 7%, Ivory Coast – 4% and Ghana – 23%.”
This fact-check seeks to verify the accuracy of the rates as captured in the viral message.
GhanaFact looked out for the inflation rates in all the listed countries for the month of April 2022, to ensure standardisation.
According to the National Bureau of Statistics of Nigeria, the country’s latest inflation rate – April 2022 – is 16.82%. In the preceding month – March 2022 – inflation stood at 15.92%. So the viral claim that Nigeria’s inflation was 15% is inaccurate.
The inflation rate of Cotê D’Ivoire – April 2022 – is 4.6%, an increase of 0.4% compared to that of March 2022, according to the National Institute of Statistics. However, the viral message said Ivory Coast’s inflation rate stood at 4% – which is inaccurate.
In the case of Togo, the country’s inflation rate as of April 2022 was 7.5%, according to the National Institute of Statistics and Economic and Demographic Studies (INSEED), and not 7% as claimed in the viral message.
Meanwhile, Ghana’s inflation rate as of the end of April was 23.6%, according to the Ghana Statistical Service (GSS).
The viral message is rated FALSE.
The fact-check was initially rated Partly false. But has now been updated to false.