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GHS1,000 in 2021 now worth GHS451 due to inflation — New research

Gertrude Nkansah Nkansah 5 days ago 0

A stark revelation by the 3News Research Desk has shown that the ravaging effects of inflation have drastically reduced the purchasing power of the Ghanaian cedi.

According to their findings, a staggering 451 cedis today has the same value as 1000 cedis in 2021.

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This means that the average Ghanaian now needs 2,216 cedis to purchase what they could have bought for 1000 cedis just two years ago.

The alarming depreciation of the cedi’s value has left many reeling, with the prices of essential goods and services skyrocketing.

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The research highlights the harsh realities of inflation, which has eroded the purchasing power of Ghanaians. The findings have sparked concerns about the economy and the government’s ability to curb the inflationary trend.

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As the cost of living continues to rise, many are feeling the pinch. The reduction in purchasing power has significant implications for households, businesses, and the overall economy.

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