@Peter1Ackon@SaddickAdams Petrol costs around GH₵18–20 per litre, and a basic meal at a local eatery can cost GH₵25–50.
So, what GH₵10 could buy in 2007 now requires roughly GH₵100–GH₵150 today — meaning the purchasing power has fallen by about 90–93%.
@Peter1Ackon@SaddickAdams Prices of basic items like a loaf of bread (₵0.80–₵1.20) or a litre of petrol (₵0.90–₵1.10) were quite low.
Today (2025):The same GH₵10 might only buy a loaf of bread, or a single sachet of milk and a small snack.
@Peter1Ackon@SaddickAdams When Ghana redenominated its currency in 2007, GH₵10 had strong purchasing power.
In 2007–2009, GH₵10 could comfortably buy a full meal for two, or even pay for a week’s transport for an average worker.
@Peter1Ackon@SaddickAdams The 100 and 200 cedi notes were introduced because inflation over the years reduced the value of money—what used to cost GH₵10 might now cost GH₵100.
However, this does not mean Ghana was in hyperinflation.
It was rather an adjustment to inflationary pressure.