Expect Gradual Price Cuts in 60 Days — AGI, GUTA Tell Consumers

By
Daniel Amenyo Ablordey
-
0
138

Ghanaian consumers can expect a gradual reduction in the prices of goods and services within the next 60 days, following renewed commitments from the Association of Ghana Industries (AGI) and the Ghana Union of Traders Association (GUTA).

The pledge was made during a meeting with the Minister for Trade, Industry, and Agribusiness, Elizabeth Ofosu-Adjare, on Tuesday, May 14, 2025, amid Ghana’s strengthening currency performance.

Cedi Gains Ground, Businesses Cautious But Hopeful

The Ghanaian cedi has appreciated significantly in recent weeks, currently trading around GHS12.40 to the dollar—compared to over GHS15 earlier this year. Despite this, most market prices have remained unchanged, raising concerns among consumers and economic observers.

GUTA President Dr. Joseph Obeng attributed the delay in price adjustment to older stock bought at higher exchange rates. “We cannot immediately revise prices due to the cost of inventories already in the system,” he explained. He added that continued currency stability will be essential in ensuring that businesses can reduce prices sustainably.

Dr. Humphrey Ayim-Darke, President of AGI, also stressed that industry leaders are monitoring economic indicators closely. He urged government to maintain fiscal discipline to support the gains recorded in recent months.

Trade Ministry Engages Private Sector for Consumer Relief

Expect Gradual Price Cuts in 60 Days — AGI, GUTA Tell Consumers

Minister Ofosu-Adjare noted that while government cannot enforce price cuts in a free market, it plays a key facilitative role. She said the Ministry will continue to engage stakeholders to ensure the benefits of macroeconomic stability are passed on to consumers.

“We’ve seen some direct importers already adjusting prices downward, and this is expected to ripple through to the retail level over the 60-day period,” she said.

The Ministry also reaffirmed its commitment to creating a predictable business environment to support long-term investor confidence and consumer welfare.

Also Read: Finance Minister Ato Forson Urges Traders to Lower Prices Amid Cedi Stability

Author

  • Daniel Ablordey

    Daniel Ablordey is a Business Analytics student at the University of Ghana Business School and an emerging strategist at the intersection of data, markets, and narrative. With a keen analytical mind and a passion for African business and economic trends, he is building a career focused on translating complex data-driven insights into accessible, decision-relevant stories that matter.

    As a writer and editor with Insight Ghana, African Business Insight, and The African Journal, Daniel delivers sharp, high-impact analysis on current affairs, business developments, and emerging trends across the continent. His work is defined by precision, clarity, and a deep commitment to responsible journalism — ensuring that every story he tells is not only accurate but meaningful to the audiences it serves.

    Beyond his editorial work, Daniel serves as an Ecobank Youth Ambassador, where he actively promotes financial inclusion, digital banking, and financial literacy among young Ghanaians. His leadership experience spans academic, professional, and faith-based institutions, where he has consistently driven initiatives centered on growth, structure, and long-term impact.

    Grounded in the principles of Pan-Africanism and service, Daniel brings a rare combination of analytical rigour and storytelling depth to his work. Whether unpacking market behavior, profiling emerging business leaders, or covering cultural shifts shaping the continent, he approaches every assignment with strategic intent and editorial integrity.

    His broader ambition is to contribute to Africa's transformation by shaping how data, business, and storytelling intersect — not just locally, but on a global stage.

Previous articleCedi Hits Pension: Bank of Ghana to Celebrate 60 Years of the Cedi on July 19
Next articlePresident John Mahama Re-Nominates 4 Key Municipal and District Chief Executives in Accra
Daniel Amenyo Ablordey
Daniel Amenyo Ablordey
Daniel Ablordey is a Business Analytics student at the University of Ghana Business School and an emerging strategist at the intersection of data, markets, and narrative. With a keen analytical mind and a passion for African business and economic trends, he is building a career focused on translating complex data-driven insights into accessible, decision-relevant stories that matter.

As a writer and editor with Insight Ghana, African Business Insight, and The African Journal, Daniel delivers sharp, high-impact analysis on current affairs, business developments, and emerging trends across the continent. His work is defined by precision, clarity, and a deep commitment to responsible journalism — ensuring that every story he tells is not only accurate but meaningful to the audiences it serves.

Beyond his editorial work, Daniel serves as an Ecobank Youth Ambassador, where he actively promotes financial inclusion, digital banking, and financial literacy among young Ghanaians. His leadership experience spans academic, professional, and faith-based institutions, where he has consistently driven initiatives centered on growth, structure, and long-term impact.

Grounded in the principles of Pan-Africanism and service, Daniel brings a rare combination of analytical rigour and storytelling depth to his work. Whether unpacking market behavior, profiling emerging business leaders, or covering cultural shifts shaping the continent, he approaches every assignment with strategic intent and editorial integrity.

His broader ambition is to contribute to Africa's transformation by shaping how data, business, and storytelling intersect — not just locally, but on a global stage.
Linkedin