Amidst rising inflation, several things are going to be reviewed today 24th October 2022 including price of some goods and services.
Transport companies such as VIP have reviewed fares Upward, Traveling from Wa to Kumasi will cost Ghc160 whilst Wa to Accra will cost Ghc260.
In the Region, several things have seen a change in price and this has affected businesses and cost of living.
These are things one should buy before price hikes because such things are imported and there maybe a shortage or extreme increase in prices.
Firstly, Motorbike: A Motorbike is a necessary machine several people need to be able to carryout their daily activities, prices of motorbikes are going up in a high rate, this is due to the depreciation of the Cedi, currently several motorbikes have crossed the Ghc10,000 mark. Slightly used bikes aren’t spared. If you need a motorbike the best time to buy it is now, you won’t be on the losing side even if you take a loan because such an amount most likely won’t be able to afford it in weeks to come.
Secondly, Cement: Like the ordinary thinker will say ‘we will build even if the price of cement is Ghc100’, it’s easier to say it than to act upon it. Cement has hit Ghc80 due to the exchange rate, what will happen in the next two weeks,we can’t tell so it’ll be safe to invest your money by buying cement to mould blocks, this is the wrong time to save money.
Thirdly, Buy spare parts: don’t manage a part of your motorcycle or car now buy that part before it’s late, if possible, buy an extra part to save yourself, price of spare parts will go up in weeks due to the exchange rate, buy your tyres, batteries now, buy your engine oil in excess to take you at least seven months, price of engine oil is likely to be inflated.
Forthly, Buy your important Gadgets now: it may be time for replacement in the shortest possible time but prices may fail you: Buy that phone now waiting till tomorrow maybe risky, taking a loan won’t be a bad idea, that money isn’t becoming better, buy that screen of your phone, buy that charger, buy that power bank, buy that headset, Bluetooth, that TV, that decoder, that CCTV, that laptop etc now before it’s late, all of that are imported.
Lastly, Packaged food Items: as a restaurant manager or someone who manages a food joint, it will be prudent to buy some of your food products in bulk at this rate, taking a loan won’t be bad idea, the money isn’t appreciating soon, buy the cooking oil in bulk, rice, sugar, salt, packaging materials such as take away, we don’t know what will happen on Wednesday.
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Source: Upperwestmedia.net