By Mohamed Kamara
FREETOWN, August 27, 2024 — Recent figures from Statistics Sierra Leone indicating a decline in national consumer price inflation have sparked skepticism among concerned citizens. According to the publication, inflation fell to 29.46% in July 2024, down from 31.46% in June, with a reported 2.48% decrease in food and transport costs. However, these claims are being disputed as local market conditions and transport costs remain unchanged.
Madam Adama Turanka, an economist with over two decades of experience, criticized the reported figures in an interview with this medium. She argued that the statistics appear disconnected from real market conditions. “It seems the statisticians are relying on fabricated and outdated data rather than actual market observations,” Turanka said. “Prices for both imported and locally produced foodstuffs continue to rise, contradicting the reported inflation decline.”
Turanka also pointed to the lack of effective monitoring by the Ministry of Trade and Industry. She suggested that the evaluation and monitoring departments have been inactive, raising concerns that there may be collusion between market monitors and importers, contributing to inflated prices. “The mechanisms in place to monitor food prices are ineffective and outdated,” she added.
In the transportation sector, Turanka highlighted the ongoing fluctuations in fuel prices, which directly impact transportation fares. She noted that fare hikes and fuel price instability have persisted throughout 2024, which should be considered when assessing inflation trends.
Turanka recommended that Statistics Sierra Leone adopt a direct market approach for more accurate inflation measurements, rather than relying solely on official but potentially unreliable figures.
