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Tamale Market Women Confirm Triple Digit Inflation
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- Parent Category: Our Country
- Category: Business & Finance
- Created on Friday, 04 May 2012 00:00
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Tamale 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.
The market women at the Aboabo Market, noted for selling food stuffs in bulk, confessed to the increases during a tour of the Market by the Vice-Presidential Candidate of the New Patriotic Party, Dr. Mahamudu Bawumia.
In various interactions with the market women, traders and patrons of the market, Dr. Bawumia was informed of 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 to Dr. Bawumia. She mentioned 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 market women and traders who interacted with Dr. Bawumia explained to the economist that these increases had led to a slowdown in their business and had made life harder. They indicated that due to the high increases in the prices, customers had also reduced their purchases and mentioned to Dr. Bawumia that they sometimes were forced to sell their wares far below breakeven prices.
Dr. Bawumia urged the market women to remain resolute and support the NPP to victory as Nana Akufo-Addo and the NPP had credible plans that were meant to lessen their suffering and increase food production especially in the North.
Dr. Bawumia referred to his lecture a few days ago during which he expressed his 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 and their suffering worse.
Source: Peacefmonline.com
