Data published by the Ghana Statistical Service points to significant factors contributing to the recent hikes in food prices across the country. Food inflation stood at 22.6% in May, a slight reduction from 26.8% in the previous month. However, a detailed analysis reveals that locally produced food has been the primary driver of this inflation, overshadowing the impact of imported foods.
Among the top 20 items with the highest inflation rates, eight were locally produced foods, while only three were imported. The food sub-class comprising vegetables, tubers, and plantain experienced an inflation rate of 37.9%. However, the month-on-month inflation, which reflects the current situation, saw a significant jump of 10.6% compared to the national average of 3.2%. This substantial increase underscores the impact of transportation costs on the prices of locally produced food, a concern frequently raised by traders.
Another competing use of arable land is real estate development, often referred to as"concrete plantations." Large parcels of land previously used for cultivating crops such as maize, cassava, and rice have now been converted into residential areas, particularly in cities like Accra.
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