Ransford Gyampo, an associate professor in the political science department of the University of Ghana has suggested to the government to introduce what he describes as ” near price control.”
Gyampo believes this will help alleviate the plight of consumers following the recent hike in prices of goods on the market.
“Times are hard but this must not be licentious for unpatriotic people to inflict more hardships by charging exorbitant prices on everything. I call for some monitoring and near price control, as the market forces aren’t working,” he posted on Facebook.
Meanwhile a cross section of Ghanaians have expressed worry at the high cost of goods and services on the market.
Prices are skyrocketing ooo…it’s not even funny.
Ecomini forcing all of us to start slimming course.
It’s about time we introduce the weighing scale just like our neighbouring countries. The olonka and bucket system is not helping. Ghana Standards Authority.
I bought 3 tomatoes for 5 cedis today 
.
Sister prices have doubled and tripled ooo hmmm God is in control
This matter. I wanted to get a carton of milk for my family. I asked, they mentioned the price. I thanked the woman and just waka pass. Ei.
Producer price inflation rate for March 2022 hits 29.3%
The year-on-year producer price inflation for March 2022 has increased to 29.3% from the 21.4% recorded in February 2022, the Ghana Statistical Service (GSS) has said.
This rate represents a 7.9 percentage point increase in producer inflation.
The month-on-month change in the producer price index between February 2022 and March 2022 was 6.8%.
PPI measures the average change over time in the prices received by domestic producers for the production of their goods and services.
According to the GSS, the manufacturing sub-sector recorded the highest year-on-year produce price inflation, followed by the mining and quarrying sector.
Manufacturing sector
In March 2022, two out of the sixteen major groups in the manufacturing sub-sector recorded inflation rates higher than the sector average of 36.0%.
Manufacture of coke, refined petroleum products and nuclear fuel recorded the highest inflation rate of 67.4%, while the publishing, printing and reproduction of recorded media recorded the least inflation rate of 2.6%.
Petroleum price index
The GSS in a statement said, “the producer inflation rate in the petroleum subsector was 31.0% in March 2021. The rate decreased to 28.0% in April 2021 and subsequently fluctuates to 25.3% in August 2021.
“Thereafter, it increased continuously to 58.4% in November 2021 but dropped to 35.0% in January 2022. In February 2022 the rate increased to 44.3% and inched up to 67.4% in March 2022.”
Mining and Quarrying
The producer price inflation in the mining and quarrying sub-sector increased by 19.8 percentage points over the February 2022 rate of 13.8% to 33.6% in March 2022.
The producer inflation for the manufacturing subsector, which constitutes more than two-thirds of the total industry, increased by 7.2 percentage points to 36.0%. The utility sub-sector recorded a 1.1% inflation rate for March 2022.
Trends
According to a GSS analysis, in March 2021, the producer price inflation rate for all industries was 13.0%. The rate decreased to a record 10.9% in April 2020 but increased to 11.8% in May 2021.
The rate decreased continuously to a record 8.1% in August 2021. Subsequently, the rate resumes an upward trend to increase continuously to a record 29.3% in March 2022.
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