Commodity prices decreased by 2.0% in 1H13, according to the IMF’s All Commodity Price Index, of which metals saw the biggest price drop. The metals price index fell by 12.0%, while fuels declined by 1.9% over the period (this decline was muted by an increase in the WTI crude oil price). Conversely, the food and beverage price index increased by 1.8%. However, this was largely due to a 2.9% increase in the food price index, which countered a 10.4% drop in the beverage price index. When the price of a country’s exports is falling relative to the price of its imports, the country’s terms of trade are declining and it is actually becoming poorer. For Sub-Saharan Africa’s (SSA) net commodity exporters, falling commodity prices imply a decline in the volume of imported goods that can be obtained per unit of goods exported (terms of trade), ceteris paribus. This implies that their consumption is likely to have been dampened by falling export commodity prices, particularly of metals, beverages and fuel. Using econometric analysis, we estimate the impact of softer prices for commodities that dominate Ghana, Zambia, Kenya and Nigeria’s trade accounts, on their respective per capita income growth rates.