The Honorary Vice President of IMANI Centre for Policy and Education, Bright Simons has offered a detailed plan aimed to assist young professionals living in Accra and across the continent to navigate the rising inflation and high cost of living.
In his detailed analysis, the seasoned civil activist pointed out that inflation isn’t just a national number—it’s a personal reality that can differ widely based on lifestyle choices and purchasing habits.
His remarks shed light on the often-overlooked complexities of inflation and provide a roadmap for navigating this challenging economic landscape.
According to Bright Simons, understanding these differences could make the difference between financial comfort and hardship, especially in urban areas like Accra.
“The simple reason for this, of course, is that inflation is a ‘weighted average’ of how prices are changing for a lot of goods and services. In Ghana, nearly 50,000 products and services in over 8300 shops in 57 markets are monitored.
“Obviously, the things you buy often and where you buy them will determine your own unique inflation rate for this month and the next.”
Bright Simons, Honorary Vice President of IMANI Centre for Policy and Education
Geographical Diversity in Inflation Rates
One of the more striking points Bright Simons raised involves the geographical diversity in inflation rates, arguing that contrary to popular belief, inflation’s impact isn’t exclusive to Ghana’s cities.
According to Bright Simons, recent data suggests Accra is experiencing declining inflation, while rural areas like the Savannah, Upper West, and Bono East regions are grappling with significantly higher rates.
He pointed out that the Savannah Region, for instance, saw food inflation nearing a staggering 50% in September, a rate approximately 250% higher than the national average.
For him, these statistics highlight the misconception that only urban centres are bearing the brunt of rising costs.
“The poorest and most rural places in Ghana are suffering the highest inflation,” Bright Simons noted, pointing out that these areas are often overlooked in the national conversation on inflation and cost of living.
The IMANI’s Honorary Vice President further pointed out the dynamics of inflation in everyday essentials like fish. “If you’re a fan of sea fish like mackerel or tuna, brace yourself,” he warned, noting that these items have seen a 33.8% inflation rate this year—a major increase, though not as high as last year’s 65.5%.
“How are you going to stick to your ‘no red meat’ health improvement plan? Well, you can consider switching to tilapia, as fish like that is only seeing a 25.4% inflation rate, much closer to general inflation.
“Assuming, of course, that you don’t plan to do the East Legon-style ‘whole tilapia’ thing. Which is the whole point really, cut your cut according to your cloth”.
Bright Simons, Honorary Vice President of IMANI Centre for Policy and Education
Financial Pitfalls of Lifestyle Inflation
Bright Simons also cautioned against the financial pitfalls of lifestyle inflation—when inexpensive staples become lifestyle habits. According to him, one popular dish, “gob3” (fried plantain and beans), once celebrated for its affordability, has seen an inflation rate of 31.2%, significantly higher than general inflation.
He observed that as prices for such foods continue to rise, young professionals may be slow to adjust, potentially spending more on what was once considered a “brokeman luxury.”
For a growing number of Ghanaians, Bright Simons noted that “gob3” may soon transition from an affordable staple to a relative luxury, akin to the reputation of East Legon’s premium tilapia meals.
“Which brings me to the final point. It is good to choose some lifestyles on their own merit, like health-consciousness. But you should still “adjust” that lifestyle for inflation and cost of living. Getting a salad, wrap, and smoothie in a modern cafe in a place like East Legon would easily set you back a cool 200 GHS.
“Yep. Just lunch. And the only courtesy you will get is one of those nice posters updating you regularly about upcoming ‘price reviews’ (sample picture in next thread). Which, let’s be fair to facts, your favourite gob3 vendor doesn’t do. So, you pay your monies, and you make your choices”.
Bright Simons, Honorary Vice President of IMANI Centre for Policy and Education
He warned that those who rely on cafes for these trendy meals may end up paying over 200 GHS for a single lunch, with cafes constantly reviewing prices upward.
To manage costs, Bright Simons encouraged individuals to shop for fresh ingredients and prepare meals at home, which he argueed offers a more sustainable solution to maintaining a balanced diet without compromising one’s budget.
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