- Food prices may increase between 5% and 10% before the year 2018 comes to an end
- This was revealed by Esoko Ghana, a group of commodity analysts
- The reasons for the price hike have been revealed as increases in fuel prices and the Bagre Dam disaster
A report by commodity analysts, Esoko Ghana, has revealed that prices of food items may increase between 5% and 10% before the end of the year 2018.
The reason for the price hike has been linked to the rising cost of fuel, as well the Bagre Dam spillage in Burkina Faso.
YEN.com.gh understands that the spillage caused floods and destroyed farms in some parts of the north.
A content analyst at Esoko Ghana, Francis Danso Adjei, has cautioned Ghanaians to brace themselves for price increases for the same quantity of items.
“From our initial assessment we don’t see prices coming down. If anything at all, we see prices of food going up between 5 to 10 percent by end of the year,“ he said.
Meanwhile, the General Agriculture Workers Union(GAWU) has also expressed similar stance due to the level of damage caused to farms in the north of the country.
The General Secretary of GAWU, Edward Kareweh, said “generally there has been an increase in food prices as compared to 2017”.
He added that it is important to put in measures to cushion consumers, particularly the poor in society.
Kareweh further noted that that it is important to develop a system that will help in the storage of food to prevent price hike anytime there is a shortage in supply.
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