Market women confirm triple-digit inflation

Market women at the Tamale Aboabo market Friday confirmed the astronomic increases in prices of various food items in the last three years despite the much touted attainment of single digit inflation over the same period.

 
Traders at the market, noted for selling food stuffs in bulk, confessed to the increases during a visit by the Vice Presidential Candidate of the New Patriotic Party, Mahamudu Bawumia, whose recent lecture on the State of the Economy has exposed the practical disconnect between the paper single-digit inflation and the reality on the ground.

 
In various interactions the market women, traders and patrons of the market, informed Dr Bawumia about how prices of staples and other items had all either doubled or in some instances tripled over the last three years.

 
For instance, one maize seller informed Dr Bawumia of how a bag of maize which sold between GH¢45 (450,000 old cedis) and GH¢70 (700,000 old cedis) barely three years ago was now selling between GH¢200 (2,000,000 old cedis) and GH¢240 (2,400,000 old cedis).

 
In another instance, a sheanut seller relayed the doubling of the price of sheanut within the last three years, explaining that sheanut sold in 2008 for 50pesewas (5,000 old cedis) was now going for GH¢1 (10,000 old cedis), an increase of exactly 100%.

 
A yam seller at the market shared a similar story. According to her, 100 tubers of yam which sold for GH¢70 (700,000 old cedis) in 2008 was now selling at GH¢170 (1,700,000 old cedis), an increase of about 142%.

 
The traders explained to the renowned economist and banker that the increases had led to a slowdown in their business, leaving their economic circumstances worsening on daily basis.

 
They indicated that due to the high increases in the prices, customers had also reduced their purchases, adding that they are sometimes were compelled to sell their produce below breakeven prices.

 
Dr Bawumia urged the market women to remain resolute and support the NPP to return to the corridors of power at the December polls, assuring them that Nana Akufo-Addo and the NPP has credible, pragmatic plans to alleviate their sufferings and increase food production, especially in the North.

 
He referred to his lecture a few days ago during which he expressed worry over the fall in agricultural growth and crop production as well as the astronomic increases in various foodstuffs and asked that it was time those governing came to the ground to find out how hard life had become for the ordinary Ghanaian instead of finding solace in propaganda which has absolutely no bearing on the lives of the people.

 
Speaking to journalists in the market, Dr Bawumia stated that he had come to the market to interact with the market women on their concerns and their livelihoods.

 
He remarked that following his visits to the Malata market and the Aboabo market, it was very obvious that market women and traders were concerned about the same issues and were facing very similar issues which had made life harder, with unprecedented sufferings.