Traders’ Corner – Market women blame price hikes on inflation

Prices of basic commodities in Sierra Leone vary in different stalls in the various markets across the country. An unofficial survey conducted by Sierra Express in Freetown detailed that the absence of price controlling mechanisms is having an adverse effect in the consumer behaviour patterns.

Chief Ya Alimamy Fofana, a petty trader and chairlady of Congo market in the west of the capital says she sells different types of rice (the staple food in the country). The varieties include the local fen-fen, Jasmine, Bella Rose, Pakistan broken rice, Thailand rice, country rice all selling at different varying prizes per bag. She said they find it difficult to cope with the prizes as a result of the buying rate per unit cost. She said government has always assured them to cushion the pricing effect of these commodities but still remain sky rocketing as a result of increase in prices of the global markets. She said the taxes including GST, scan and clearing taxes and warehouse taxes have all contributed to the pricing inflation on the local commodities.

She furthered that government should step in to cushion a pricing mechanism to save the masses of the neck-breaking cost.

CONSUMER PRICE INDEX
Commodity	Price in Leones	Per pint in Leones
Five gallon oil	140,000	1,800.000
Five gallon palm oil	105,000	2,500.000
Jumbo Maggie carton per packet Tie   Salon white Maggie cartoon packet Tie   Raw pepper/per bag Cup   Onions/bag Half bag   Tomato paste cartoon Per tin	235,000 4,000 500   180,000 3,500 200   500 200   200,000 150,000   70,000 45,000 1,000
RICE PER BAG
Bella Rose/full bag Half bag   AA full bag Half bag   Local fen-fen full bag half bag   Country rice	180,000 90,000   154,000 75,000   165,000 80,000   175, 180	1,200     1,000     1,200

TODAY’S EXCHANGE RATES MARCH 28TH, 2012
CURRENCY	BUYING	SELLING
Pottal Foreign Exchange Bureau
US$	4,350	4,500
UK£	6,600	7,000
Fofan Foreign Exchange Bureau
US$	4,350	4,370
UK£	6,600	7,000
Afro International Bureau
US$	4,250	4,500
UK£	6,600	6,900
EUR€	5,500	5,600
Dollar Boys
US$	4,350	6,400
UK£	6,700	6,900
EUR€	560/570,000	5,800

 

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