Claim: Ghana’s inflation rate is very high as compared to other West African countries
Source: Social Media post
Verdict: MISLEADING
Researched by David Yovo-Ofori
A viral post on X suggests Ghana is performing woefully when our inflation rate is compared to some West African countries.
The post listed the supposed inflation rates of 7 countries; “Ghana – 25%, Mali – 2%, Burkina Faso – 2.5%, Benin – 0%, Togo – 2.7%, Senegal – 3.3%, Ivory Coast – 3.8%,” and referenced the International Monetary Fund (IMF) as the source of the data.
RelatedNews
Curent inflation figures of Ghana and it neighbouring countries.
Ghana — 25%
Mali — 2%
Burkina Faso — 2.5%
Benin — 0%
Togo — 2.7%
Senegal — 3.3%
Ivory Coast — 3.8%Source: IMF pic.twitter.com/f9tWH0XaKx
— DATANOMICS (@Datanomics_) June 5, 2024
The claim has generates about 1400 interactions (reposts, likes and comments) and garnered more than 68,000 views. This fact-check report seeks to verify the accuracy of the data.
Fact-Check:
GhanaFact’s investigation indicates this claim to be MISLEADING.
Find in the table below the latest inflation rates of the mentioned countries as published by the International Monetary Fund (IMF) and the national agencies mandated to produce and disseminate official statistics in these countries .
Analysis of inflation rate as of the date the claim was published on X
| Country | Claim posted on X | Inflation Rate (IMF) |
| Ghana | 25% | 22.3% |
| Mali | 2% | 1% |
| Burkina Faso | 2.5% | 2.1% |
| Benin | 0% | 3% |
| Togo | 2.7% | 2.7% |
| Senegal | 3.3% | 3.9% |
| Ivory Coast | 3.8% | 3.8% |
Meanwhile the Ghana Statistical Service has released the inflation rate for May and it shows there was a drop from 25.0% in April 2024 to 23.1% in May 2024.
This notwithstanding, it is important to highlight that the inflation rates sourced from the International Monetary Fund are yearly projections for each country. However, Ghana’s inflation rate as quoted in the claim, was for only April and it is not statistically correct to compare annual and monthly rates.
Verdict
The claim is rated MISLEADING.
