The prices of goods and services have witnessed an astronomical increase recently due to the depreciation of the local currency, among other factors.

Ghanaians have bemoaned the high prices of commodities like tomatoes, okra, onions, pepper, tubers of yam, and other essential items.

However, traders attribute the price hike to a shortage of these commodities in the market, as well as the weakening of the Cedi against major trading currencies.

Most of these items, including tomatoes and onions, are imported from neighboring countries to meet local demand.

Although the inflation rate for June 2024 – 22.8 percent – took a marginal nosedive from the figure recorded in May this year [23.1 percent], the prices of items remain high and continue to increase by the day.

The Ghana Statistical Service, in its inflation report, noted that food and non-food inflation were major drivers of the inflation rate recorded in the country.

Food inflation for June was 24.0 percent, while in May, it was 22.6 percent. This indicates that there has been a month-on-month increment of 5.1 percent.

The Consumer Price Index (CPI) is used to measure changes in the price level of a fixed basket of goods and services purchased by households.

Price collection data were gathered for approximately 47,800 products every month from 57 markets across 16 regions.

List of items contributing to food inflation

• Okra (fresh)

• Green pepper

• Tomatoes

• Garden eggs

• Carrot

• Cabbage

• Onions

• Oranges

• Dried pepper

• Garlic

• Avocado pear

• Cocoyam leaves

• Bananas

• Ginger

• Mango

• Lime

• Fish (fried)

• Sweet apple

By: Ernestina Serwaa Asante

SA/NOQ

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