Saturday, May 31, 2025
Ghana Fact
  • Who We Are
    • About Us
    • How we work
    • Submit a claim to check
    • Partners
    • Our Team
    • Funding
    • Principles
    • Corrections
    • Privacy Policy
    • Press Releases
  • Contact
  • Home
    • Latest
    • Trending
  • Governance
  • DisinfoLab
  • Politics
    • Election 2020
    • Election 2024
  • Economy
  • Health
    • COVID-19
  • Environment
  • AI & Deepfakes
No Result
View All Result
Ghana Fact
  • Home
    • Latest
    • Trending
  • Governance
  • DisinfoLab
  • Politics
    • Election 2020
    • Election 2024
  • Economy
  • Health
    • COVID-19
  • Environment
  • AI & Deepfakes
No Result
View All Result
Ghana Fact
No Result
View All Result
Home Economy

FACT-CHECK: How does Ghana’s inflation rate compare to 3 other countries in the subregion?

ghanafactbyghanafact
May 23, 2022
in Economy
Reading Time: 2 mins read
A A
FACT-CHECK: How does Ghana's inflation rate compare to 3 other countries in the subregion?
Share on FacebookShare on TwitterShare on ThreadsWhatsApp

Claim: Inflation rates of 4 West African countries

Source: Viral message

Verdict: FALSE

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.

RelatedNews

CONFIRMED: Two cases of Marburg Virus Disease in Ghana; here is a factsheet about the highly infectious disease

CONFIRMED: Two cases of Marburg Virus Disease in Ghana; here is a factsheet about the highly infectious disease

FACT-CHECK: Jubilee House shares time series of Ghana’s debt to GDP ratio

FACT-CHECK: Jubilee House shares time series of Ghana’s debt to GDP ratio

FACT-CHECK: Ghana has NOT recorded a case of Monkeypox

FACT-CHECK: Ghana has NOT recorded a case of Monkeypox

WHO: There is no evidence to suggest that coronavirus cannot spread in hot weather

WHO: There is no evidence to suggest that coronavirus cannot spread in hot weather

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.

FACT-CHECK: How does Ghana's inflation rate compare to 3 other countries in the subregion?
A screenshot of a Facebook post

 

FACT-CHECK: How does Ghana's inflation rate compare to 3 other countries in the subregion?
A screenshot of a Tweet

 

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.

 

Fact-Check

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).

 

Verdict

The viral message is rated FALSE.

 

Update

The fact-check was initially rated Partly false. But has now been updated to false. 

 

 

Tags: Ghana Fact-Check
ShareTweetShareSend

Related Posts

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

False! Cement prices have not dropped to GH¢82 or GH¢85 

False! Cement prices have not dropped to GH¢82 or GH¢85 

True! US dollar did not hit GH¢17 under the last NPP government

True! US dollar did not hit GH¢17 under the last NPP government

FACT-CHECK: President Mahama did not blame IMF for ‘failure’ to abolish COVID-19 Levy

FACT-CHECK: President Mahama did not blame IMF for ‘failure’ to abolish COVID-19 Levy

Misleading! All foreign gold traders have not been ordered to leave Ghana by April 30

Misleading! All foreign gold traders have not been ordered to leave Ghana by April 30

False! IMF hasn’t complained about number of committees created by the Mahama-led government

False! IMF hasn’t complained about number of committees created by the Mahama-led government

Load More

Most Recent

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

True! Mills-Mahama governments issued only four small-scale mining licences in 8 years

True! Mills-Mahama governments issued only four small-scale mining licences in 8 years

False! Bill Gates did not propose vaccinating livestock in Africa

False! Bill Gates did not propose vaccinating livestock in Africa

FACT-CHECK: Viral photo of Ibrahim Traore’s family is manipulated 

FACT-CHECK: Viral photo of Ibrahim Traore’s family is manipulated 

Load More

Most Popular

South Korea and Japan are not offering $75000 for Black Men to impregnate their women

South Korea and Japan are not offering $75000 for Black Men to impregnate their women

FACT-CHECK: Viral photo of Ibrahim Traore’s family is manipulated 

FACT-CHECK: Viral photo of Ibrahim Traore’s family is manipulated 

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

FACT-CHECK: Inusah Fuseini understates ECG’s transmission and commercial losses 

True! Mills-Mahama governments issued only four small-scale mining licences in 8 years

True! Mills-Mahama governments issued only four small-scale mining licences in 8 years

Load More
Ghana Facts - factscheck

GhanaFact is a project by FactSpace West Africa aimed at curbing the spread of disinformation on traditional and social media.

Follow Us

Browse Articles

  • AI & Deepfakes
  • DisinfoLab
  • Economy
  • Election 2020
  • Election 2024
  • Environment
  • General News
  • Governance
  • Health
    • COVID-19
  • Other Checks
  • Politics
  • Press Releases
  • Promise Meter

Contact

Address: P. O. Box AB 521, Abeka-Lapaz, Accra

WhatsApp: +233 244 49 9971

Email: info@ghanafact.com

Memberships

Memberships
  • Submit a claim to verify
  • Contact
  • Corrections
  • Team
  • About
  • Funding
  • How we work
  • Partners
  • Principles
  • Privacy Policy

© 2025 Ghana Fact - All rights reserved - Web development by EnspireFX Websites.

Welcome Back!

Sign In with Google
OR

Login to your account below

Forgotten Password? Sign Up

Create New Account!

Sign Up with Google
OR

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
    • Latest
    • Trending
  • Contact Us
  • Governance
  • DisinfoLab
  • Politics
    • Election 2020
    • Election 2024
  • Economy
  • Health
    • COVID-19
  • Environment
  • Other Checks
  • AI & Deepfakes
  • Who We Are
    • About Us
      • Partners
      • Press Releases
      • Principles
      • Privacy Policy
    • How we work
    • Submit a claim to check
    • GhanaFact Team
    • Funding
    • Corrections

© 2025 Ghana Fact - All rights reserved - Web development by EnspireFX Websites.