Consumers in Ghana are finally beginning to feel the positive impact of the Cedi’s remarkable recent appreciation, with over 4,500 products on the Ghanaian market already seeing price reductions.
This encouraging development was revealed by the Member of Parliament for Sagnarigu and a member of Parliament’s Trade, Industry and Tourism Committee, Issah Attah.
Speaking on The Big Issue on Channel One TV on Saturday, July 26, MP Attah disclosed that this extensive list of price reductions was revealed by the Association of Ghana Industries (AGI) during a recent stakeholder engagement.
The meeting aimed to address public concerns about a perceived disconnect between the Cedi’s impressive currency gains and the sluggish adjustment of retail prices.
“Go to the streets of Accra and ask people. Many will testify to the drastic reduction in the prices of goods,” MP Attah challenged, highlighting a growing public awareness of the changes.
He elaborated on the parliamentary committee’s proactive steps.
“As a trade committee, we engaged key stakeholders including GUTA [Ghana Union of Traders’ Associations], AGI, the Importers and Exporters Association, and other relevant partners at the ports to understand why the Cedi’s improved performance was not immediately reflected in market prices.”
According to MP Attah, the committee’s investigations found that while some sectors had indeed been slow to adjust their pricing structures downwards, the comprehensive data presented by the AGI provided concrete evidence of widespread relief for consumers.
“The report we received from AGI indicated that over 4,500 products in Ghana have already benefited from price reductions,” he stated definitively.
The revelation comes on the heels of Finance Minister Dr. Cassiel Ato Forson’s announcement during the 2025 Mid-Year Budget Review that the Ghana Cedi had appreciated by an unprecedented 42.6% against the US Dollar, 30.3% against the British Pound, and 25.6% against the Euro by the end of June 2025.
This historic turnaround from a period of severe depreciation has been largely attributed to robust fiscal consolidation, tight monetary policy, improved external sector balance, and renewed investor confidence.
For the average Ghanaian consumer, the Cedi’s strength directly translates to reduced import costs.
Ghana’s economy is significantly import-dependent, with a vast range of goods – from fuel and pharmaceuticals to electronics and clothing – being sourced from abroad.
A stronger Cedi means that importers pay less in local currency for the same quantity of foreign goods, theoretically leading to lower retail prices.
The reported price reductions align with the observed decline in Ghana’s inflation rate. The Ghana Statistical Service (GSS) reported that inflation had fallen from 23.8% in December 2024 to 13.7% in June 2025, marking six consecutive months of decline.
Food inflation, a major component of the Consumer Price Index (CPI), also saw a significant drop from 27.8% to 16.3% in the same period.
This disinflation process is expected to continue as the Cedi stabilises and the cost of imported goods decreases.
While the news is largely positive for consumers, experts caution that the full impact of currency gains on retail prices can take time to manifest due to various factors, including existing stock purchased at higher exchange rates, hedging strategies by businesses, and the general lag in market adjustments.
However, the AGI’s data, as cited by MP Attah, provides some evidence that the benefits are indeed trickling down to the market.
This development is a welcome relief for Ghanaian households that have grappled with high cost-of-living pressures in recent years.
It signals a tangible positive outcome of the government’s economic stabilisation efforts and offers a glimmer of hope for improved purchasing power across the country.
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