Operators of restaurants in the Oxford Street area of Osu-Re in Accra are complaining about the recent increase in petroleum products.
The situation is simple: As the cost of goods increase, sellers must also raise their prices to make money. As prices increase, the number of customers decreases.
“Customers will just walk in and see the price and he or she will see that they cannot afford it,” said John Kofi Ntseful, a waiter at Tip Top Chinese Restaurant.
The reason for the increased prices at Tip Top, he said, is because the government has raised the price for petrol and also the cost of importing goods has increased.
“The restaurants import much of its food from China to make good dishes hence our worry” he said.
Kuki’s Dessert Parlour, which has been in operation for four years, has also seen an increase in production costs.
Emma, who works at the Parlour, said that eggs, sugar and margarine have all become more expensive.
The complaint was not different at Container, a popular pub on Oxford Street
“Things have been hard… and slow,” said Joyce, one of the waitresses there.
With increasing prices, businesses on Oxford Street have had to develop strategies in order to continue to attract customers and keep themselves moving.