The current increase in the price of commodities, owing to a spiraling inflationary trend is sweeping through the economy.
With inflation leaning at a tipping point of 27.6% from the 23.6% recorded in April 2022, as announced the Ghana Statistical Service (GS)
Prices of most consumer and non-consumer items have continued to soar out of the reach of the average Ghanaians family, and there are few signs that things will not get better anytime soon, especially looking at the month to month increase in Inflation figures.
One item that has not only seen an increase in price, but a reduction in size is bread. The invasion of Ukraine by Russia, is largely to be blamed for the scarcity of flour, which has led to the increase in the price of bread.
Russia and Ukraine together export more than a quarter of the world’s wheat, feeding billions of people in the form of bread, pasta and packaged foods.
And since agricultural commodity markets are global, any reduction in the wheat supply could push up demand and prices for wheat grown in other parts of the world, including Australia, Argentina and the American Midwest.
The ripple effect of the invasion of Ukraine, is what has led to the increase in the price of bread.
This newspaper, has observed that a loaf of bread that hitherto was selling for Gh¢7, has been increased to Gh¢10, as if that is not enough, the bread has reduced in size and it is very weightless.
A lot of average Ghanaians are already struggling to get by, they cannot even afford what is available and now that the price has gone up, and the size reduced, how much should parent buy in order to satisfy a family of four.
This time that Ghanaians find themselves in is a time that tests men’s souls. It is also a time that should bring out the best in a people determined to survive against all odds.
It is a time that requires the ingenuity of all of us, if we are to come out of the crisis, brought about by Russia’s invasion of Ukraine and our own lack of seriousness.