By Charity Opoku
Traders in Kumasi have begun bringing down prices of goods, especially perishable edibles since Saturday, October 30, 2022. However, the price of other household fast-moving consumer goods remains high without any sign of a reduction sooner or later.
This came to the fore when GBC News visited some major trading centres within the Ashanti Regional capital.
There have been concerns by the consuming public at least in the last month about the unreasonable upward adjustment of prices of goods on the market in the Ashanti Regional capital, Kumasi, known for its brisk commercial activities which witnesses daily influx of retailers and other customers from the Northern and Western North regions as well as other parts of the Ashanti region to do purchases either for household consumption or hawking.
Despite the prevailing harsh socio-economic difficulties in the country, the consuming public raised alarm about the unreasonable spate of incessant price increases by the business community. The most affected commodities are cooking oil, rice, and detergent among others.
For instance, as of last Thursday, the price of a large-sized-yellow gallon of cooking oil had shot up from 600 Ghana Cedis to one thousand Ghana Cedis. The average price of a five-kilogram rice had also risen from 70 Ghana Cedis to 90 Ghana Cedis while a tin of sardine that sold for 6.50 Ghana Cedis, also rose sharply to 10 Ghana Cedis as at last Friday.
This situation cut across the various commodities raising eyebrows about suspected artificial price manipulations by the operators. The traders blamed mainly the fast depreciating value of the local currency against particularly the U.S. Dollar which is the major trading currency for exporters. However, a visit to the frontage of the erstwhile Central Market and the new Kejetia Market in Kumasi on Monday 31st October 2022 showed that the prices have started reducing as of last Saturday, October 29, 2022.
However, no specific reason has been assigned for the sudden price reduction.
It came to light that the large sized-yellow gallon of cooking oil which price had astronomically increased to one thousand Ghana Cedis was selling between 870 Ghana Cedis to 950 Ghana Cedis. A box of sardines which until Friday was bought for 500 Ghana Cedis is now selling at 450 Ghana Cedis since Saturday. A popular dealer in such edible goods, who gave his identity as BIG O.T. cautioned people deliberately hiking prices to ”reconsider their deeds”.
GBCNews observed on the contrary, that the prices of some other household items remain very high at the Kejetia Market. Wares such as salt, meat, onion and tomatoes remain affordability of very low-income earners. For instance, a sachet of salt which was 80 Pesewas is now Two Cedis. A pound of beef which was 24 Cedis is now 28 Cedis with a live chicken currently selling either 50 Cedis or 60 Cedis from the previous prices of 30 and 40 Cedis depending on the weight of the bird.
BIG O. T advised consumers who have the means to do their Christmas shopping now since the prices could shoot up again because demand would affect it during the festivities.
