As the government of Ghana is trying hard to boom the economy in the pandemic situations, cost of living is going high but Ghanaians are making their three times daily ends meet which some people will say it’s okay.
Ghanaians in their own will have taken into consideration to make their own survey and analysis on how a bag of cement has gone up from the previous government and the current government leading them.
The price listed by them has shown that a bag of cement is no longer 38ghc but it has been 43 Ghc to 54 Ghc currently.
See the calculation and analysis below.
In 2009, a 50kg bag of cement was sold for GHC9.2 to GHC11 maximum in Ghana depending on the brand and the location of the cement.
In 2016, John Mahama handed over to Akufo Addo an economy in which a 50kg bag of cement was sold for GHC21 to GHC27 maximum in Ghana depending on the brand of cement and location.
So let’s even assume that the highest price of a bag of cement was GHC9.2 and it increased to GHC27 in 2016. It means that, in 8 years under the NDC, the total increment in the price was GHC17.8. This translates into GHC2.23 increment per year.
4 years under a Akufo Addo-Bawumia led NPP government, same 50kg bag of cement which was GHC27 maximum price in 2016, is today selling in between GHC43.65 and GHC54 depending on the brand of cement and location.
Now, if you do simple arithmetic analysis, in 4 years under Akufo Addo-Bawumia, cement prices cumulatively increased by GHC27.
This translates into GHC6.75 per year.
Conclusion: The price of a bag of cement increased by GHC2.23 per year under the 8 years of NDC.
Under the first 4 years of Akufo Addo-Bawumia, the annual increase in the price of cement per bag is GHC6.75.
Dear Ghanaian, a yearly price increase of GHC 2.23 economy, and GHC6.75 yearly price increase economy, which one are you better of?
Share your thoughts and share with others to know the new price.