Oil, rice and cement prices have increase in in the last few days…source update2470.blogspot

For the past few days, Ghanaians were shocked by the increasing rate of the prices of some goods which it is not easy to do away from, due to the cedi’s depreciation. 

The cedi has depreciated against the dollar by more than 50% in the last few months to currently sell at Ghc13.90 as of October 25, 2022.

Currently, the rate of inflation has become ‘talking points’ in every market as Ghanaians cry over the depreciation of their purchasing power. 

Oil

Earlier this year, the price for oil was Ghc550, now the price of the product has risen to Ghc1000. Some retailers have even pegged their prices at Ghc1,200. Consumers have been perturbed over the price increments as others even believe traders are taking an advantage of the situation. 

Rice

At the midpoint, the price of the commodity rice, has risen by more than 50% in the last three months. 
The 5kg bag of rice currently costs Ghc112 from an earlier cost of ghc50 at the beginning of the year.

Cement 

The price of a 50kg bag of cement is now above Ghc80, as the manufacturers’ input costs rise due to the depreciation of the currency’cedi’ 
Some retailers of GHACEM, Diamond and Dangote cement vary their prices of their products, from Ghc77 to Ghc80 but the price of Dzata cement is a little cheaper. 

A Joy News report sighted by Update2470 attributed the current increase in price to the depreciation of the cedi against the US dollar. 
Some of the materials used in producing the cement are imported, hence increasing the cost of operations. 


The increase in the price of cement will go a long way to affect construction. 

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Some Ghanaians reaction on the increments of essential goods on twitter and facebook 

@justimagine7500: we have always believed in Ghana till your family took over and shutdown our believe…gallon of frytol Ghc1000…why? Waakye in Zongo’s no more 2cd, 5cd 🆙 why

@NewsDaily_24: Ghc1000 yesterday, today it’s ghc1200 frytol. 

Asante-Akyem Awuraba on Facebook: Gino rice is now 4.5kg not 5kg anymore. Now selling at Ghc111.50 (vat exclusive) 
All we can say is hmmm 

Tugbe Akosua Kpekpeye on Facebook: Gino 5kg 112.00
Ewokple is still ok by me 
Thank u