Price hikes for bottled water and beverages predicted following tariff increases

Mr. Samuel Aggrey, General Secretary of the Food and Beverages Association of Ghana, has forecasted a rise in prices for bottled water and beverages following the recent tariff increases announced by the Public Utilities Regulatory Commission (PURC) for the third quarter of 2024.

He stated that these tariff adjustments, combined with a previous increase, will inevitably lead to higher retail prices for consumers.

In an interview on the Ghana Yensom morning show on Accra 100.5 FM on Monday, September 30, 2024, Mr. Aggrey emphasized that businesses will need to pass on the increased production costs to customers.

He expressed concern over the challenges faced by business owners due to the high costs of operating at the ports and the rising tariffs in the country.

The PURC has officially announced an upward adjustment in electricity and water tariffs, effective October 1, 2024.

The adjustments include a 3.02 percent increase in electricity rates and a 1.86 percent rise in water tariffs, impacting all consumer categories nationwide.

In a statement released on September 28, 2024, the Commission cited several factors for the increase, including inflation, fluctuations in the exchange rate, and changes in gas prices.

“Following the quarterly tariff review, the Commission wishes to inform the public that there will be a 3.02 percent increment in electricity tariffs and a 1.86 percent increment in water tariffs for the third quarter of 2024 for all categories of customers,” the statement read.

The PURC noted that this decision was made with careful consideration of Ghana's ongoing economic challenges and their impact on living standards.

The Commission aimed to balance these economic factors with the necessity to maintain the competitiveness and sustainability of industries amid rising costs, taking into account the inflation rate, exchange rate fluctuations, and the Weighted Average Cost of Gas (WACOG) during the projected third quarter.

Watch the latest edition of BizHeadlines below:

Ghana’s leading digital news platform, GhanaWeb, in conjunction with the Korle-Bu Teaching Hospital, is embarking on an aggressive campaign which is geared towards ensuring that parliament passes comprehensive legislation to guide organ harvesting, organ donation, and organ transplantation in the country.

Click here to follow the GhanaWeb Business WhatsApp channel