Market women in the Odododiodo constituency have expressed their growing concerns regarding the skyrocketing prices of essential goods, particularly shrimp.
This was made known during a live interview segment called the Community Manifesto, broadcasted by TV3.
A striking revelation came from the vendors, who reported that the price of one bowl (locally known as olonga) of shrimp has surged from GHC 1,000 to an alarming GHC 4,000. This fourfold increase has left many women struggling to maintain their businesses and provide for their families.
The market women articulated how this drastic rise in prices reflects a broader trend of increasing living costs that is affecting the entire community. Many voiced their frustrations about the challenges they face in sourcing affordable goods, which has made it increasingly difficult to sustain their livelihoods.
In December 2022, Ghana’s annual inflation rate was reported at 54.1%, driven primarily by soaring food prices, with food inflation reaching 59.7%. This trend continued into 2023, with inflation rates peaking at 42.2% in May 2023.
As of July 2024, the year-on-year inflation rate has decreased to 20.9%, indicating a slowing rate of increase. However, the cumulative impact of the previous years’ price hikes is still being felt across the economy, significantly disrupting businesses and affecting household budgets.
As the cost of living continues to rise, the women are calling for immediate attention from local leaders and policymakers to implement measures that will stabilize prices and support small-scale vendors. They emphasized the need for community engagement and solutions that will alleviate the financial burdens they are currently facing.
