The Ghana Statistical Service (GSS) has unveiled its latest Food Price Variability report at the Accra Technical University (ATU), shedding light on significant disparities in food prices nationwide.
According to the report, which tracked prices for 10 staple food items from January 2023 to February 2024, the Western North Region has emerged as the most expensive for consumers.
The selected food items include bread, beans, yam, noodles, cooking oil, tomato paste, milk, beef, salt, and imported rice.
The report underscores the Western North Region’s status with the highest median prices for these essential food items, ranking among the top three most expensive regions for six out of the ten items. This suggests that residents in this region are likely facing higher grocery costs compared to other parts of the country.
Interestingly, the study reveals that price discrepancies are more pronounced within regions rather than between them. Therefore, consumers are encouraged to explore multiple local stores to capitalize on potential savings. The report advises shoppers to be mindful of price variations when making purchasing decisions.
The analysis delves deeper into food price dynamics, highlighting a sharper increase in prices for unprocessed local food items such as tomatoes, yam, and garden eggs. In contrast, processed local options like Ga kenkey, fried plantain with beans, and smoked herrings experienced a more moderate price hike.
Additionally, the report underscores the volatility of imported food items, which exhibited more than double the price fluctuations compared to locally produced ones. Between February 2023 and February 2024, imported food items recorded an average percentage change of 70.9%, while local food items saw an average change of 33.4%.
The findings of the GSS report provide valuable insights for policymakers, consumers, and stakeholders in the food industry, highlighting the need for targeted interventions to address food price differentials and enhance food accessibility across Ghana.