Josiah
The government and key trade associations have reached a consensus to reduce the prices of goods within the next 60 days—conditional on the continued strengthening of the Ghanaian cedi against major foreign currencies.
The agreement was reached during a high-level meeting on Tuesday, May 14, between the Ministry of Trade, Agribusiness and Industry and representatives from major trade bodies, including the Ghana Union of Traders Association (GUTA), the Association of Ghana Industries (AGI), and the Food and Beverage Association of Ghana.
The meeting was chaired by Madam Elizabeth Ofosu-Adjare, who announced that the trade associations have committed to lowering prices in the coming weeks. This move follows reductions in fees and charges by some regulatory agencies in response to the Cedi’s recent gains.
“Our discussions have been productive,” Mrs. Ofosu-Adjare told reporters. “There is a shared understanding that, if the Cedi’s current stability is maintained, consumers should begin to see a drop in the prices of goods.”
The development offers a hopeful outlook for relief in the cost of living, contingent on continued economic stability.
Source: Omanghana.com
