Depreciation and Inflation (¢)

Ghanaians have expressed worry over the high cost of living. What are the causes and is there any relation between depreciation and inflation? It looks like there is plenty food on the market, yet prices are high. Why so? These and many more are questions posed to a Lecturer in Economics, Professor John Gatsi. He said the issue has to do more with the importation of agricultural products from neighbouring countries. The pressure of using dollars to purchase imported products is another which the government must reconsider.  Professor Gatsi said to address the issue, government needs to look at agriculture policy and ensure that Ghanaian farmers are supported to deliver. Professor Gatsi said the Commercial Banks cannot be forced to reduce lending rates because the banks operate with a market regime to make profit.

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