FLASHBACK: Ghana has third most expensive price of bread across Africa - Report

Last year, Ghana was ranked third among nine African countries with the most expensive price of bread.

The report showed that the price of a loaf of fresh white bread, which weighs about 500 grams, costs an average price of $0.79 (GH¢6.00) in Ghana.

In first place however, was Nigeria which was ranked with the most expensive price of bread in Africa with a loaf of fresh white bread (500g) going for an average of $1.12 (GH¢9).

Read the full story originally published on April 20, 2022, by GhanaWeb

Ghana has been ranked third among nine African countries with the most expensive price of bread, according to a report by Business Insider Africa.

Bread is a common staple food that is widely consumed and always in high demand in Africa.

The report, which compiled data from Numbeo, a leading global database of consumer prices said a loaf of fresh white bread, which weighs about 500 grams, costs an average price of $0.79 (GH¢6.00) in Ghana.

In first place however, was Nigeria which was ranked with the most expensive price of bread in Africa with a loaf of fresh white bread (500g) going for an average of $1.12 (GH¢9).

In South Africa, which came in second place, the same loaf of bread (500g) costs an average of $0.98 (GH¢7.45).

The increasing cost of the staple food has been attributed to its high demand and other macroeconomic factors such as supply chain disruptions and foreign exchange constraints.

The recent invasion of Ukraine by Russia, according to global economic institutions, has been predicted to likely result in an imminent food crisis in Africa especially.

This is because most African nations that make bread source their grains which include wheat from Ukraine. Russia, on the other hand, is among the world’s largest wheat exporters.

Also, the ongoing war has resulted in raft sanctions placed on Russia which could potentially impact wheat exports to key countries.

See the list of 9 African countries with the most expensive prices of bread

Credit: africa.businessinsider.com [Data Source: Numbeo]

Inflation and Bread price hikes in Ghana

From Saturday, April 2, 2022, prices of bread in some parts of the country increased significantly from an initial GH¢6 for a loaf of bread to around GH¢8.

The increment according to the bakers was due to price hikes in flour, sugar, eggs, margarine, and other key ingredients used for making bread.

Meanwhile, recent figures released by the Ghana Statistical Service showed national inflation for March 2022 hit 19.4 percent - a 3.7 percentage point higher than the 15.7 percent recorded in February 2022.

This huge spike in inflation was largely driven by hikes in food prices, transportation, and housing.

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