Local goods inflation rises despite tax relief – Mark Badu-Aboagye

The CEO of the Ghana National Chamber of Commerce and Industry, Mark Badu-Aboagye, stated that inflation in locally manufactured goods has risen despite tax relief for businesses. This rise in inflation indicates that there are still significant challenges in production costs, even as businesses enjoy a more stable exchange rate and lower interest rates.

Speaking on Joy News’ PM Express Business Edition, Badu-Aboagye acknowledged that the business environment had improved overall, but the inflation figures for local goods demonstrated that there were unresolved issues. He pointed out that while the 2026 budget was largely business-friendly and tax relief had benefited both businesses and consumers, the national average inflation rate for locally manufactured goods had increased by a small margin.

Badu-Aboagye maintained that businesses had helped keep inflation rates in check by limiting price increases. However, he noted that some regions had inflation rates above the national average, suggesting that there is still room for improvement. He emphasized the importance of further tariff reductions alongside ongoing tax relief to help bring down inflation for locally manufactured goods.