The High Street Journal visited the Madina and Nima markets in Accra on Saturday, August 16, not for a shopping spree but to take the pulse of food prices at one of the most important barometers of the economy the open market.
Over the past four months, market women say prices of most staples and livestock have largely stabilized, thanks in part to the appreciation of the Ghana cedi and relatively stable fuel prices. But behind this veneer of calm lies a story of seasonal swings, supply dynamics, and household realities.
At Madina, a trader in tomatoes, Mavis Baffour, pointed to the piles of fresh red produce stacked high on her wooden stall. “Tomatoes are in season, so the price has dropped sharply just two months ago, a mini bucket was selling for GH¢150. Today, customers pay about GH¢80. It is better for us and better for them too.” ,” she explained
But while tomato buyers may breathe a little easier, onion lovers are not so lucky. At Nima market, Ibrahim Fuseini, an onion dealer, lamented the sharp reversal in his trade. “We are passing the onion season. A bucket that went for GH¢60 in June is now GH¢120. People complain every day, but there is little we can do. When supply reduces, prices rise. It’s that simple.” He emphasized.
Livestock sellers, however, report a rare stability. The price of chicken has hovered around GH¢45 to GH¢50 per pound for several months. “We haven’t changed our prices in a while,” said Abdul Karim Mahama, a coldstore trader at Nima. “Feed costs are high, but demand is steady, so we keep the price within this range.”
At Madina, another trader, Deborah Nyarko, who deals in yam and maize, said the relative calm in prices has been a relief. “When the cedi was weak, everything went up. But now that it has held between GH¢10 and GH¢11 to the dollar, we can at least plan. Fuel too has not gone up much, so transport costs are stable.”
Her observation reflects the wider economic trend. According to the Ghana Statistical Service, headline inflation eased to 13.7% in June 2025, marking the sixth consecutive monthly decline. The World Bank has also highlighted how the cedi’s appreciation, alongside tighter monetary policy and fiscal consolidation, has helped to cool price pressures.
Yet, economists warn that the relief is uneven. Food inflation is still highly sensitive to seasonality, the data at Madina and Nima markets, thus cheaper tomatoes but expensive onions is exactly how seasonal supply shocks show up in Ghana’s consumer basket.
For households, the experience remains mixed. Families may save a few cedis on tomatoes but spend twice as much on onions. And while poultry prices are stable, staples like gari and rice remain elevated compared to pre-2023 levels.
Still, traders and customers alike agree that the past few months have felt less punishing. As traders at Madina market summed it up, “Things are not cheap, but at least they are not rising every week like before. That alone gives us small peace of mind.”
