His tariff, wage, transport and central-bank numbers all match PURC, GSS and Bank of Ghana records.

Published 12 Nov 2026, 10:12 GMT

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Kojo Oppong Nkrumah's cost-of-living figures check out: his tariff, wage, transport and Bank of Ghana numbers match the official data.

The Ofoase-Ayirebi MP read the statement at the Minority's press conference on Tuesday, November 10, two days before Finance Minister Cassiel Ato Forson presents the 2027 Budget. He contrasted headline inflation of 5.5 per cent in October with the bills households actually pay.

3News rebuilt each figure from the primary source: PURC tariff decisions, National Tripartite Committee wage communiques, the Ghana Statistical Service CPI release for October 2026 and the Bank of Ghana's 2025 financial statements. Each series is labelled with its dates.

Electricity up 28.7% since January 2025: Accurate

PURC's combined first-and-second-quarter review for 2025 raised the average end-user electricity tariff by 14.75 per cent from May 3, 2025. Further quarterly reviews added 2.45 per cent from July 1 and 1.14 per cent from October 1.

Then came the 2026–2030 multi-year review: up 9.86 per cent from January 1, 2026, down 4.81 per cent from April 1, up 3.49 per cent from July 1 and unchanged from October 1. Compounded, a tariff of GH¢100 in January 2025 costs GH¢128.68 today, a 28.7 per cent rise. Verdict: Accurate.

Minimum wage up 19.9%: Accurate

The daily minimum wage in January 2025 was GH¢18.15, under the 2024 rate. The Tripartite Committee raised it 10 per cent to GH¢19.97 from March 1, 2025, and 9 per cent to GH¢21.77 from January 1, 2026.

GH¢21.77 is 19.9 per cent above GH¢18.15, and the 2026 step alone added GH¢1.80 a day. One caveat: the wage rate dates from January 2026 while the tariff series runs to October 2026. The statement asks the 2027 Budget to set the next wage against the cost of essentials. Verdict: Accurate.

Water up 13.3% in 2026: Accurate

PURC's multi-year review raised water tariffs 15.92 per cent from January 1, 2026. The quarterly reviews then cut them 3.06 per cent from April 1, raised them 0.85 per cent from July 1 and left them unchanged from October 1.

Compounded, that is a 13.3 per cent rise across 2026. Verdict: Accurate.

Transport up 14.1% in a year: Accurate

The GSS October 2026 CPI release puts transport-division inflation at 14.1 per cent year on year, up from 5.7 per cent in September. Transport prices rose 8.0 per cent in October alone.

That 14.1 per cent covers October 2025 to October 2026, and it is the whole division: fares, fuel and vehicle costs combined. Verdict: Accurate.

GH¢93.56bn absorbed, GH¢16.73bn paid to banks: Accurate

The Bank's 2025 financial statements record GH¢93.56 billion in liabilities under open market operations at December 31, 2025, up from GH¢32.68 billion a year earlier. The 2025 cost of those operations was GH¢16.73 billion, nearly double the GH¢8.60 billion of 2024.

That cost is interest on Bank of Ghana bills held by local banks plus repurchase agreements. Two caveats apply: GH¢93.56 billion is the stock outstanding at year-end, not cash mopped up during the year; and the Bank presents the operations as a tool for bringing inflation down. Verdict: Accurate.

The Bank's side is that tight policy, a broadly stable cedi and improved food supply drove disinflation, with food inflation falling even as utility adjustments pushed up non-food prices. The MP had earlier questioned whether the Bank is squeezing jobs to tame inflation. Forson responds at 6pm today when he reads the budget.

Araba IncoomAraba Incoom writes on multiple topics with a vast knowledge across different sector. You can almost call me an AI, after all, my initials are Araba Incoom.

Fact-check: Are Oppong Nkrumah&#39;s cost-of-living figures accurate?

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Fact-check: Are Oppong Nkrumah's cost-of-living figures accurate?