Cost Of Living Soars Under NDC Despite Low Inflation On Paper – Bawumia

By Dominic Duut | Noblenews

Former Vice President and NPP 2028 flagbearer Dr. Mahamudu Bawumia has accused the NDC government of worsening the cost of living for Ghanaians nearly two years after assuming office.

Addressing delegates at the NPP National Delegates Conference in Kumasi on Saturday, October 3, Dr Bawumia said the NDC promised a reduction in electricity tariffs under its 24-hour economy policy, but the opposite has happened.

“However, nearly two years on, there has rather been a dramatic increase in electricity tariffs, thus crippling households, small businesses and industries.

Today, the barber shop owner, the hair salon operator, the bread baker and many young businesses who were promised better electricity tariffs are now striving to survive because much of their sales are going into electricity bills under the NDC government,” he said.

On the general cost of living, Dr Bawumia noted that transport, rent and other essential expenses continue to rise despite official inflation figures.

“As if the suffocating electricity and water tariffs are not enough, the cost of transportation continues to rise, especially in the cities, due to the rising cost of spare parts and fuel.

The cost of rent has also continued to rise. So even though, on paper, inflation has declined to 5%, the cost of living for ordinary Ghanaians has increased massively!” he stressed.

Dr Bawumia said the government’s only lifeline has been the relative stability of the cedi, which he attributed to the NPP’s innovative Domestic Gold Purchase Programme introduced by the Bank of Ghana in June 2021.

“In the midst of the government failing to fulfil its promises and unleashing all these difficulties on households and businesses, its lifeline has been the relative stability of the cedi, largely supported by our innovative Domestic Gold Purchase Programme,” he said, adding that NDC officials who opposed the policy now rely on it.