@iamyevesky@domynych Then again the local Waakye joint could also be compared to local New Jersey street food. His take goes beyond price analysis and how much food is worth.
@kvngazu @funky4lyf@VickieRemoe Let’s put currency aside. In the past year, looking at your personal budgeting, can you confidently say on average you are spending 37% more? How much are you also spending in the past three months?
@kvngazu @funky4lyf@VickieRemoe Granted, as time goes on, that average figure will even out with a general sustained increase leaving out months with relatively lower inflation behind.
@kvngazu @VickieRemoe What relavant variable will you use? I will use fuel. A year ago I bought a liter of fuel for GHC 6, more or less. Today it’s GHC 17.99. That’s a 199.83% increase. Applying the same percentage increase, that’s a GHC 4500 salary. Do the same with cooking oil let’s see.
@kvngazu @VickieRemoe What relavant variable will you use? I will use fuel. A year ago I bought a liter of fuel for GHC 6, more or less. Today it’s GHC 17.99. That’s a 199.83% increase. Applying the same percentage increase, that’s a GHC 4500 salary. Do the same with cooking oil let’s see.
@ernestina_yorm @_lawslaw@JoyNewsOnTV If producers increase price and consumers don’t purchase, they lose. They will reduce price. If price is reduced, some producers may find it difficult surviving. They shut down. Strongest survives. If limited supply, demand will push price up. Like so until optimal.
@ernestina_yorm @_lawslaw@JoyNewsOnTV Yes. However, in a free market and with a commodity like water, demand and supply works out very well. We’ve seen how elasticity of demand has played with its price in the past. In the end, price will be where customers and producers will be willing and able to buy and/or supply.
@Manzle@OKCephas@StatsGH What are you saying? Somoco doesn’t import the Bajaj Qute. It’s Cadmus investments that do. Somoco only imports Bajaj motorcycles and tricycles.