The Western Regional Branch of the National Association of Graduate Teachers (NAGRAT) has reminded the government on the need to honour the Cost-of-Living Allowance (COLA) to save many Ghanaian homes the current socio-economic pressures.
Ms. Justin Nelson, Chairman to the Association said the high cost of living has made the take home pay nothing to solve the present challenges.
The Chairman, at a press conference, said the annual inflation rate had accelerated for 12 consecutive months to 27.6% in May of 2022 from 13.9% in January, representing about 14% variation and added that “this is the highest inflation rate since January of 2014, in part due to a weaker cedi struggling to come at par with the dollar.”
The introduction of 1.5% tax on electronic payments, which was approved by Parliament in late March also added to the inflationary pressure.
According to Ghana Statistical service, the four divisions, transport data 3.5% increment, household equipment, and routine maintenance 28.5% food and non-alcoholic beverages 25.6% and water, electricity, gas and other fuels 25% have caused the rising inflation to a record high.
Mr. Nelson said such astronomical increases in the components of the Consumer Price Index has eroded negotiated 4% and 7% salary increase for public sector workers in 2021.
He said the government should at least increase the COLA to 20% to ameliorate the hardship facing workers.
“We have come to our wits end you we can no longer bear the pain.
“Yes, we therefore demand from our national leaders that if at the end of June, our call for COLA is not heeded, then we have no option than to pay heed to the clarion call of our members to lay down our tools.”