Food prices have increased in the Koforidua Central Market, leaving traders and consumers worried over the rising costs, which has resulted in low patronage and low sales.
A market survey conducted by the Ghana News Agency (GNA) from August 15 to 19 revealed that the prices of staple food items such as maize, onion, cassava, yam and rice have increased significantly.
A paint bucket of maize that costed between 15 and 20 Ghana cedis in June was being sold at 25 and 30 Ghana cedis, while a paint bucket of onion, which was 80 Ghana cedis in June, now costs 100 Ghana cedis.
The price of rice, however, remains the same, with the 42 kilogrammes costing between 850 and 1000 Ghana cedis.
Ms Esi Kuma, a trader, attributed the upsurge in prices of staple food to unfavourable climate conditions and rising transportation costs due to persistent increase in fuel prices.
“It’s getting tough to make ends meet,” she said.
Despite the seeming stability in prices of different brands of rice, a closer look at the market dynamics reveals that the quantities of smaller bags of rice have also been reduced.
The traders say the usual five-kilogrammes of rice has been reduced to 4.5 kilogrammes, indicating a reduction in the overall quantity but at the same price.
This change has raised concerns about the affordability and accessibility of rice in the local market for average income earners, particularly for households and tertiary education students who rely heavily on rice as their staple food.
Vegetables and tubers of Yam and cassava have also seen a price surge.
A small-sized yam is sold at 20 Ghana cedis, a medium-sized at 35 Ghana cedis, and a big-size for 40 and 50 Ghana cedis.
Ms Yaa Baaba, a yam seller, noted that the increasing prices of food items were upsetting the masses as several households could not afford them.
Many salaried workers had complained of stagnant pay and the depreciation of the cedi, as well as high inflation, which had eroded their purchasing power and thus affected demand in the market, she said.
She advised that as the cost of living continued to escalate, it was imperative for the Government to take pragmatic steps without political consideration, to ensure that basic food items became affordable and remained accessible to all.
Recently, however, the Ghana Statistical Service reported that food inflation had fallen to 21.5 per cent in June 2024 from 24.0 per cent in the same period last year, while non-food inflation also tumbled to 20.5 percent.
GNA
