We're working to reduce food prices in the country — Nana Addo

August 16th 2022, 11:57:46 am

President Nana Addo Dankwa Akufo-Addo has said the government is working to lessen the prices of food on the market.

Nana Addo

Despite the hikes in food prices, he has assured that prices in the coming days will reduce with the provision of trucks to market queens for the movement of food items from the rural areas to the urban areas.

He made this known at the 22nd General Meeting of the Presbyterian Church of Ghana at Kwahu Abetifi in the Eastern Region.

According to him, "Arrangements are being made with market women, market queens, in popular parlance, to provide trucks to evacuate foodstuffs from rural markets to urban centres to help reduce the cost of food prices in the city."

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The cost of food increased 32.3 percent in July of 2022 over the same month in the previous year.

Food inflation averaged 9.34% from 2013 until 2022, reaching an all-time high of 32.30 percent in July 2022 and a record low of 5% in July 2014.

The inflation rate rose further in July 2022 after the headline rate surged to 31.7% from 29.8% recorded in the previous month.

Professor Samuel Annim, Government Statistician highlighted the impact of the key drivers on the increase in the overall inflation rate for July 2022.

He said "We composed this from two perspectives, the food, and non-food inflation, and from a domestic and imported perspective. From the food and non-food inflation, we recorded food inflation of 32.3% and 31.3% for non-food inflation.

"From the domestic perspective, we recorded 29.2% and imported inflation of 31.3%."


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