World Bank: Ghana Ranks 1st With Highest Food Inflation Of 122% In Africa

• The World Bank has ranked Ghana as the number one country with the highest food price increases
• Food prices have shot up by some 122%, earning the country the unenviable feat in sub-Saharan Africa
• Since the beginning of the year, food prices have increased sharply in several countries worldwide, mainly attributable to the Russian/Ukraine war

Ghana has been ranked number one by the World Bank as the country with the highest food prices in Africa.

The World Bank, in its October 2022 Africa Pulse report, disclosed that Ghana is the 1st on the list of countries in sub-Saharan Africa with the highest food inflation.

Food Inflation In Ghana, Other Countries Attributed To Russia-Ukraine War

The Food Price Index reported in sub-Saharan Africa said Ghana’s sharp prices are mainly due to the Russian-Ukrainian war, which has led to steep increments in food in several countries.

Read also

Economic Crisis: World Bank classifies Ghana as high debt distressed country; projected debt to GDP to hit 104 percent

The country beat Nigeria, Congo and other countries to attain the unenviable feat.

Senegal followed closely behind Ghana, with its food price increases hitting 110%, while Uganda placed third with a 107% increase in food prices.

Food inflation in Ghana has been high, as data from the Ghana Statistical Service (GSS) reveals that year-on-year inflation, as of August 2022, was 34.4%.

Drivers Of Food Inflation In Ghana Revealed

The figure is much higher on a month-on-month basis, with the drivers of food inflation in Ghana revealed as Oils and Fats (67%), Fish and Other Seafood (42.9%) and Water (42%).

The others include Cereal products (40%), Milk, Diary Products and Eggs (39.7%), Fruits and Vegetable Juices (37.7%) and Live Animals and Meat (34.5%).

The GSS data also adds that all of the above items recorded inflation rates higher than the national average of 33.9%.

Read also

Cocoa sector: Illegal mining has affected only 2% of farmland – Agric Minister

Food Inflation: Ghanaians Lament Increase In Price Of Delicacy “Kosua Ne Meko” As Price Of Eggs Shoot Up

Earlier, YEN.com.gh reported that the cost of a local egg delicacy, “kosua ne meko,” had shot up two times over a few months due to an increase in the price of a crate in shops and supermarkets.

The delicacy is a simple dish made from boiled eggs, freshly ground pepper, tomatoes, onions and salt.

Source: YEN.com.gh