Traders blame high price of foodstuff on collapse of the cedi

Accra, April 19, GNA - Are you paying more for food items? Traders at the Accra Central market say they are not to blame. It is the side effect of the astronomic rise in the exchange rate of the dollar, they said.

A survey conducted by the GNA in Accra found that prices of all food items have risen because of the high transport fares resulting from the high price of crude oil. The traders also blamed the fall of the cedi especially against the dollar and the CFA Franc, currency used by French-speaking West African states.

"The Government has to really do something about the increase in fuel prices, which has generally affected the prices of foodstuffs," one trader said. A number of traders the GNA talked to during a market survey in Accra said the situation over the past three months has resulted in high prices and a fall in the demand for food items.

For example, a crate of fish is now selling at 100,000 cedis instead of 96,000 cedis while a pound of meat has moved from 3,500 cedis to 4,000 cedis. A gallon of cooking oil is selling at 19,000 cedis instead of 16,000 cedis.

According to Madam Beatrice Owusuaa, a yam seller at the Agbogbloshie market, a tuber of yam, which sold at 2,500 cedes, now sells at between 3,500 and 4,000 cedis.

Madam Vida Dsane said the price of a 50-kilogram bag of grade-five rice has risen from 112,000 cedis to 130,000 cedis over the last two weeks. Ms Josephine Kpodonu, who came to do her marketing expressed disgust at the increases and appealed to the government to look into the situation since "the common Ghanaian is suffering."