Recent price hikes defy logic – FABAG

John Awumi is the Chairman of the Food and Beverages Association of Ghana (FABAG). He has serious concerns about rising prices for goods and services. He called these increases “illogical” and without clear justification.

On April 10, Awumi spoke on the Citi Breakfast Show. He questioned why prices are going up despite stable fuel costs. The government has canceled VAT on insurance, which helped keep transport fares steady.

However, he noted that a tipper truck of sand rose from Ghc2,700 to Ghc3,000 in Greater Accra. Similarly, stones increased from Ghc3,400 to Ghc4,000. Awumi expressed confusion over these price hikes.

He urged the government to monitor and address these unexplained increases. Greater oversight and transparency are needed in this situation.

Awumi called on the Ministry of Trade to investigate the causes of price hikes. Accurate data is essential for effective national economic planning.

He emphasized that the government must take an active role in managing the economy. Price increases should have a valid basis rather than being arbitrary.

Many sellers blame rising prices on fluctuations in the dollar's value. Awumi believes it’s time for the Ministry of Trade to gather accurate figures. This will help ensure inflation figures reflect reality on the ground.

His comments highlight public frustration with living costs amid stable fuel prices. Many expected these conditions would ease pressures on basic goods and construction materials.