Ghana’s Minister for Trade, Agribusiness and Industry, Mrs. Elizabeth Ofosu-Adjare, has assured the public that prices of goods and services will begin to decrease within the next two months as the Ghanaian cedi continues to strengthen against the US dollar.
Her statement follows a high-level meeting on Wednesday involving the Ministry, the Ghana Union of Traders’ Association (GUTA), and the Association of Ghana Industries (AGI). The discussions focused on how to translate the cedi’s appreciation into real economic relief for consumers.
According to the minister, many importers have pledged to reduce wholesale prices after clearing stock that was purchased when the exchange rate was significantly higher.
“Some businesses have already begun adjusting their prices, and more will follow as older inventory runs out,” she noted. “We expect a full rollout of these reductions within 60 days.”
Mrs. Ofosu-Adjare also highlighted ongoing government initiatives aimed at preserving a stable and supportive environment for businesses, expressing confidence in the cedi’s continued stability.
“We are hopeful these positive trends will persist, allowing consumers to enjoy the benefits of a more stable economy,” she added.
GUTA President Joseph Obeng confirmed that some importers are already passing on cost savings to retailers and emphasized that market competition would naturally drive further price adjustments over time.
“Give it a little time. In a competitive market, businesses will have to adjust their prices,” he said, urging the government to maintain policies that support the currency’s strength.
Meanwhile, AGI President Dr. Ayim Darkeh praised the government for leveraging favorable shifts in global trade dynamics—including changes to U.S. tariffs—that have helped bolster the cedi’s value.
He urged the government to use the upcoming mid-year budget review to reinforce these economic gains and deliver lasting relief to the Ghanaian public.
Both public and private sector leaders applauded the collaborative effort, expressing optimism that sustained currency stability will soon translate into lower consumer prices, easing the cost of living pressures for Ghanaians.
Source: Other News Agencies
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