CLAIM: Minister Ngafuan stated on Class Reloaded that inflation dropped to 7% in July 2025, but the Central Bank of Liberia (CBL) Governor, through the Monetary Policy Committee (MPC), reported that inflation as of July 2025 stood at 11.1%.
SOURCE: J. Jefferson Chesson, former Assistant Minister at the Ministry of Public Works
VERDICT: MISLEADING - The Minister's claim of 7 percent inflation contradicts the official CBL/MPC report of 11.1 percent for July 2025.
Full Text:On September 12, 2025, Chesson claimed that while on Class Reloaded, Ngafuan, Minister of Finance and Development Planning, said inflation dropped to 7 percent in July 2025, suggesting an improvement in Liberia's economy. However, the Central Bank of Liberia, through its Monetary Policy Committee (MPC) report, announced that the official year-on-year inflation rate in July 2025 was 11.1 percent.
VERIFICATION: The Stage Media reviewed the CBL Communique from the MPC meeting held on July 16, 2025. The report confirms that year-on-year inflation stood at 11.1 percent (See Page 4 of the 9-page CBL document).
A review of the Class Reloaded program confirmed that Ngafuan made the statement between 1:28:01 and 1:28:40 of the 3:30:36 recording. He cited CBL Governor Henry F. Saamoi to support the around 7 percent figure.
The MPC is responsible for formulating and implementing the country's monetary policy. The MPC decisions are crucial for stabilizing the economy and managing inflation. The CBL remains the authoritative source of inflation reporting in Liberia.
CONCLUSION: Minister Ngafuan's statement that inflation dropped to 7 percent in July 2025 is misleading, as it contradicts the official CBL/MPC report placing inflation at 11.1 percent.
