Pulse.com.gh logo

Hikes High taxes may force inflation up--Gov’t Statistician

  • Published: , Refreshed:

Government Statistician, Dr Philomena Nyarko has said the recent utility and fuel hikes may have a boomerang effect on the economy by forcing inflation up.

In an interview with Accra based Citi FM, Dr. Nyarko siad:“We are talking about utility and fuel prices, taxes, rent and all others, so the influence of utility hike reflect in high price of things, then we may as a country see high inflation rates so the policy makers will have to find a way of bringing down some of these tariffs and taxes so that the common man could have some form of relief.”

Electricity and water tariffs were increased to 59.2 per cent and 67.2 per cent respectively by the Public Utilities Regulatory Commission (PURC), last month.

Fuel prices also shot up by 27% occasioned by the passage of the Energy Sector Levy by Parliament.

Government’s inflation target for this year is 8%.

Government last year missed its inflation target of 11.5% to close the year on 17.7 percent, the highest rate since July 2015, according to inflation data from the Ghana Statistical Service.

At a media briefing to announce the inflation rate for December, Dr. Philomena Nyarko attributed the increase to the recent hikes in utility prices and projected a continuous rise in inflation rate for the first quarter of 2016.

Do you ever witness news or have a story that should be featured on Pulse Ghana?
Submit your stories, pictures and videos to us now via WhatsApp: +233507713497, Social Media @pulseghana: #PulseEyewitness & DM or Email: eyewitness@pulse.com.gh.

Recommended Articles

Recommended Videos

Top Articles

1 Ponzi schemes in Ghana These investments are Ponzi schemes in Ghana, so...bullet
2 Menzgold Ghana Don't deposit money with Menzgold – BoG cautions public...bullet
3 Investment banks in Ghana Top 5 investment banks in Ghana and why...bullet
4 How to make money online Online jobs; how to make money on YouTube...bullet
5 Menzgold Ghana Investment company closes down its Gold Vault Marketbullet
6 Education Top 5 private high schools in Ghana according to WAECbullet
7 Salaries In 2018 Here are the dates public workers will be...bullet
8 Mutual funds in Ghana Top 5 mutual funds in Ghanabullet
9 Tax Hikes Majority to support tax increasebullet
10 BoG cancels acquisition of adb shares by Belstar & 3...bullet

Top Videos

1 Forbes 2018 Africa's billionaires rich listbullet
2 Money Alert Meet Africa's richest womanbullet
3 Dr Joseph Siaw Agyepong Nobody can collapse my company – JOSPONGbullet
4 Tech 6 reasons you should buy an iPhone SE instead of any of the...bullet
5 New Discovery Ghana discovers new mineral, lithium in commercial...bullet
6 Support Finance minister buys Kantanka carbullet
7 Bozoma Saint John 10 quotes from Uber top official, Bozoma,...bullet
8 New Phone Nokia’s MWC 2018 Event in Under 10 Minutesbullet
9 New Phone Nokia’s MWC 2018 event in 7 minutesbullet
10 New Phones Nokia MWC 2018 Event in 5 minutesbullet