The Presidency says the high inflation in the country is a world-wide problem which no nation is immune to following the global economic downturn and the COVID-19 pandemic. Garba Shehu, the president’s spokesman stated this while reacting to a Guardian newspaper write-up, tying the rise in inflation to the Muhammadu Buhari administration. Ghana’s inflation rate has hit a two-decade high of 54.1 per cent before a recent decrease. ”While Nigeria’s reported inflation rate of 22 per cent is undoubtedly high and worrisome, it would be incorrect to suggest that the Buhari administration is not making efforts to address the volatile global cost of living crisis,” he added. Mr Shehu affirmed that the administration had consistently prioritised efforts to control inflation and would continue to do so.

Source: The Guardian May 18, 2023 02:11 UTC