Edward Kareweh, the General Secretary of the Ghana Agricultural Workers Union (GAWU), has projected that food prices across the nation will maintain their elevated levels until June 2024.
attributed this trend to the ongoing lean season in various parts of the country, which is expected to persist until the next harvest cycle commences in June of the following year.
Despite a gradual decline in food inflation over the past six months, with rates dropping to 27.1% in January 2024, Kareweh emphasized that the current supply of foodstuff primarily comprises last year’s produce. Consequently, consumers should anticipate sustained high prices in the immediate term.
Kareweh elaborated that GAWU anticipates a further uptick in food prices from mid to late March 2024, with prices remaining elevated until the onset of harvesting in June and July, particularly in the Southern regions.
Well, the price of food will not get better anytime soon. Looking at the country as a whole, we are entering into or are already in the lean season of production and no part of the country is experiencing harvest of foodstuff, particularly the major samples.
If we look at maize, it’s not being harvested anywhere in the country. Similarly, rice is also not being harvested unless those in the irrigation areas.
Generally speaking, there are no rains throughout the country, and at this time also the Western parts of the country will begin preparation of their farms for the major season
during this season, all the foodstuff we are eating is from last year.
So don’t expect food prices to come down now. expect that by the middle to the end of March [2024], food prices will go up and stay high like that until we begin to harvest around June/July in the Southern parts of the country.
Meanwhile, certain sectors have witnessed inflation rates surpassing the national average, including Alcoholic Beverages, Tobacco, and Narcotics at 38.5%, Personal Care, Social Protection, and Miscellaneous Goods and Services at 32.0%, and Restaurants and Accommodation Services at 29.2%.
Additionally, inflation figures for Furnishings, Household Equipment, and Routine Household Maintenance stood at 27.7%, while Food and Non-Alcoholic Beverages recorded 27.1%.
Health services registered an inflation rate of 26.6%, with Recreation, Sports, and Culture at 24.9%. As Ghana braces for continued economic challenges, GAWU’s insights shed light on the persisting dynamics influencing food prices and inflation across various sectors.
