Last week Thursday, the Government Statistician, Dr Grace Bediako, announced the lowest inflation figure in three years, having recorded a significant drop of 1.16 per cent from the previous 10.68 per cent to 9.5 per cent.
The announcement meant that the rate in inflation had fell for 12 consecutive months whiles the largest decline in 2010 was recorded when it dropped by 1.66% points.
According to the government statistician, although the prices of food were rising, the trend was relatively lower compared to what the country used to experience previously.
The announcement by the statistical service, however, gave room for government officials including the Director of Communications at the Presidency, Koku Anyidoho, to come public to make a big deal out of it.
“The remarkable drop in the rate of inflation is a positive sign and an indication that President Mills has managed the economy excellently, contrary to criticisms that the economy is in tatters”, Koku Anyidoho is reported to have told presidential correspondents shortly after the announcement.
It is in the light of this that we at Today would hope the drop reflects in the living conditions of Ghanaians as it is widely believed that when economic indices of every nation begins to show such a remarkable growth, workers also turn to save more because any little amount of money appreciate in value.
Today, will in all fairness commend the government for its prudent austerity measures that have resulted in the significant growth of the economic indices of our dear nation, but government must also not gross over the fact that incredible growth in the inflationary figures would be meaningless if the living standards of the ordinary person does not improve.
It is evidently clear that this is not the first time the statistical service is announcing such a tremendous drop in inflation, but most often, the standard of living of the ordinary Ghanaian deteriorates rather than improving.
As we savor over the success, we on the paper would like to seize the chance to advice against complacency since it requires additional effort as a nation to ensure that the massive drop does not become a flash in the pan or a nine day wonder.
And as the saying goes “It is very easy for one to reach the zenith of the ladder of fame or riches, but it is how to sustain it that becomes a problem”.