As all indications show that the Mills-led NDC administration is effectively fixing the ailing economy that it inherited from the Kufuor-led NPP administration, people like the failed NPP presidential candidate have all gone quiet on matters relating to the economy.
It used to be the case that, soon after the Mills administration came to power, the failed NPP presidential candidate, Mr. Akufo Addo and his people would go shouting themselves hoarse calling on President Mills to fix the economy. Obviously knowing the extent to which the NPP destroyed the economy before leaving office, the calls by Akufo-Addo and his people for President Mills to fix the economy was only manifestation of their belief that no one could fix such a broken economy.
However, just a little over a year into the four-year mandate of the Mills administration, all the signs are showing that the economy is on the mend. These days, we no longer hear calls of �fix it� from the likes of Akufo-Addo and his people. With nothing negative to say about the economy, Akuffo Addo and his people have resorted to clutching to non-issues such as the wholly anecdotal Atta-The-Mortuary man story told by former President Rawlings.
Indications that the economy is on the mend include the latest figure released by the Ghana Statistical Service. According to these figures, inflation rate fell to 15.97 per cent in December, a sixth consecutive decline and the lowest in 2009. The rate dropped from 16.92 per cent in November, Dr. Grace Bediako, government statistician told journalists on Friday.
The increasing inflation rate at the latter parts of 2008 continued in 2009, until it peaked in June 2009 (20.74 per cent) but thereafter declined till it recorded the lower rate for the year in December.
The non-food component of the Consumer Price Index (CPI) basket had greater influence on inflation than the food component throughout the year�, Dr. Bediako said. Food prices increased an annual 11.84 per cent in December compared to 12.4 per cent in November while non-food inflation further slowed to 18.82 per cent from 20 per cent, Dr. Bediako said. Meanwhile, the interest rates are also coming down, while the free-fall of the cedi against the major currencies has been halted substantially.
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