Public Puzzled over Sky-rocketing Prices

The continued appreciation of the dalasi in recent times has spurred economic observers and analysts in the country to come up with a plethora of queries as to what they term as the incomprehensible lack of corresponding drop in the prices of basic commodities. The situation, according to our contacts, has ignited a massive outcry from many quarters of the country.

According to our interlocutors, the Gambian dalasi has for the past few months been gaining strength against foreign currencies such as the United States dollar and the Euro. In their view, this should have reflected in the prices of goods, especially the imported ones.

They further pointed out that the upward spiral in the value of the dalasi is benefiting only a few while the poor and common Gambians continue to find it tough to buy basic commodities thanks to the sky-rocketing prices.  “It is true that the dalasi is doing well in the market now but then there are only few who are benefiting from this.  The cost of a bag of rice and other basic commodities have not been reduced even by a butut,” a concerned citizen told The Point.

A business operator, who spoke on condition of anonymity, told this reporter that the Gambia government through the Department of State for Trade and Employment should try to ensure that the prices of basic commodities are reduced with immediate effect.

It would be recalled that the Gambia government recently reduced handling charges at both the Gambia Ports Authority and airport fees to 55 per cent, much to the expectation of consumers that this would reflect on the prices of basic commodities.

However, observers believe that with the holy month of Ramadan just about two weeks away, there is hope that the prices of basic commodities and others would go down.