By Josephine Sesay
Sierra Leone is currently grappling with a significant rise in commodity prices, causing widespread concern among citizens and posing challenges to the nation’s economic stability. This surge in prices, affecting essential goods from food to fuel, has become a pressing issue that demands attention from policymakers and the public alike.
According to Sallay Turay a trader at the Wellington market ‘’in recent months, Sierra Leone has witnessed sharp increases in the prices of basic commodities such as rice, cooking oil, and gasoline. These spikes have been attributed to various factors including global market trends, local supply chain disruptions, and economic policies impacting importation and distribution.”
Musu Conteh a buyer at the Wellington market says “the price inflation has directly impacted us (citizens)’ daily lives, making essential goods less affordable for many households. For example, the cost of rice, a staple food, has risen significantly, putting strain on family budgets and exacerbating food insecurity concerns. Similarly, increased fuel prices have driven up transportation costs, affecting both consumers and businesses across the country”.
Mrs Marie Fofanah a local business woman says “Our local businesses are facing heightened operational costs due to increased prices of raw materials and transportation expenses. This situation not only threatens our profitability but also limits our ability to expand and create employment opportunities in a challenging economic environment, Moreover, inflationary pressures could undermine broader economic stability if left unchecked, potentially affecting investment and development initiatives.”
Citizens have expressed frustration and anxiety over the rising cost of living, organizing protests and calling for urgent government action to alleviate economic hardships. The situation has highlighted socio-economic disparities and underscored the need for equitable economic policies that prioritize the welfare of all Sierra Leoneans.
Copyright –Published in print in Expo Times Newspaper on Friday, July 5th, 2024 (ExpoTimes News – Expo Media Group (expomediasl.com)
