Concerned Teachers: Current inflation rate has changed from the time we agreed to a 15% COLA.

King Ali, the president of the Coalition of Concerned Teachers, has commented on the Controller and Accountant General’s Department’s payment of the Cost of Living Allowance (CoLA) (CAGD).

He stated, “The present rate of inflation is not the same when the labor unions agreed on the 15% CoLA,” to Alfred Ocansey on the Sunrise show on 3FM on Tuesday, August 30.

The Ghana Statistical Service (GSS) reported that the inflation rate for the month of July 2022 was 31.7% on Wednesday, August 10.

This is higher than the 29.8% reported in June.

King Ali said “As at the time we were negotiating inflation was 20 something and now it has shot up.”

An amount of ¢485 million has been paid as CoLA by the CAGD.

The CAGD made the announcement in a statement on Monday August 29.

“Pursuant to the approval given by the Ministry of Finance on 1st August 2022, following the Agreement signed between Government and Organized Labour on 14th July 2022, the Controller and Accountant-General has paid the Cost of Living Allowance (COLA) to workers in Public Service Institutions.

“The COLA which represents fifteen percent (15%) of the 2022 basic salary was paid for the months of July and August. The total amount paid for COLA for the two months is Four Hundred and Eighty-Five Million Ghana Cedis (GH¢485,000,000.00),” the statement said.

An agreement about the cost of living allowance that employees have been clamoring for since May was previously struck between the government and organized labor.

The two parties and their different officials decided on a 15 percent CoLA at a crunch meeting on Thursday, July 14.

Initial demands from organized labor included a 20% allowance, which prompted several labor organizations to go on strike.

However, following discussion, the employees have decided to accept a COLA of 15% for the upcoming several months.

They should be protected by this from the nation’s rising cost of living.

Disclaimer: The opinions expressed in this publication do not in anyway reflect the opinions of State News Ghana

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