Foodstuff prices to stay high despite drop in fuel prices – Esoko

Esoko Ghana has dispelled any possibility of a drop in food prices following the reduction in the prices of petroleum products.

Prices of petroleum products were reduced in the second week in June with a second prediction of a two percent drop.

Prior to this, statistics released by Esoko showed that prices went up as much as 7 percent for some foodstuffs on the market, between April and May 2018.

However in an interview with Citi Business News, Content Manager at Esoko Ghana, Francis Danso Adjei said the reduction in prices of petroleum products has so far been minimal and therefore food prices are not likely to see a reduction.

“The two percent drop is not going to bring any significant reduction, fares were just increased about two weeks ago and so there is no way GPRTU and the other transport industries will drop their fares just because this week prices of petroleum products are going to drop by 2%”,he stressed.

He added, “So we are not anticipating that there will be any price reduction in terms of fares for transportation and so this is not going to impact on the prices of food stuff in the market”.

Source: Citi Business News

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