The latest report from the Ghana Statistical Service (GSS) has revealed eye-opening insights into the cost of food across the country. Launched at the Accra Technical University (ATU), the second Food Price Variability report uncovered significant differences in food prices, with the Western North Region emerging as the most expensive for consumers.
Tracking prices for 10 staple food items from January 2023 to February 2024, the report painted a clear picture of the varying costs consumers face. Items such as bread, beans, yam, noodles, cooking oil, tomato paste, milk, beef, iodated salt, and imported rice were analyzed in terms of cedis per kilogramme or litre.
Western North Region Leads in Cost
Among all regions, the Western North Region stood out for having the highest median prices for the selected food items. Surprisingly, it ranked among the top 3 most expensive regions for six out of the ten items tracked. This suggests that residents of this region may be paying more for their groceries compared to their counterparts elsewhere in the country.
Interestingly, the report also highlighted that price variations are more noticeable within regions rather than between them. This means that shoppers might find significant savings by comparing prices within their local area. Therefore, consumers are advised to shop around and consider price differences between stores before making purchases.
Fresh Produce Prices Surge
Breaking down the food price changes, the report pointed out a sharper rise in prices for unprocessed local food items such as tomatoes, yam, and garden eggs. In contrast, processed local options like Ga kenkey, fried plantain with beans, and smoked herrings experienced more moderate increases.
The highest percentage change in prices was observed in garden eggs, soaring by 150 per cent between February 2023 and February 2024. Raw local foods like garden eggs, fresh tomatoes (104.1 per cent), and yam (66.7 per cent) saw the most significant percentage changes in prices. On the other hand, processed local foods like fried plantain and beans (50 per cent), smoked herrings (42.9 per cent), and Ga Kenkey with Fish (7.1 per cent) had lower percentage changes in prices during the same period.
Imported Items See Greater Price Fluctuation
One notable takeaway from the report is the stark contrast between imported and locally produced food items in terms of price changes. Between February 2023 and February 2024, the average percentage change in prices of imported food items was more than double (70.9 per cent) that of locally produced food (33.4 per cent). This underscores the potential benefit of opting for locally grown produce whenever possible.
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Standardized Packaging for Stable Prices
Lastly, the report suggests that standardized packaging could contribute to more stable prices across regions. This implies that goods with consistent measurements and labeling may offer more predictable pricing throughout the country. This could be a key factor for consumers when making purchasing decisions, as they seek to manage their household budgets effectively.
In conclusion, the GSS’s latest Food Price Variability report sheds light on the differences of prices in Ghana. With significant variations observed across regions and between imported and locally produced items, consumers are urged to stay informed and explore their options to make the most cost-effective choices when it comes to purchasing groceries.
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