Traders at the market. File photo.
The Association of Ghana Industries (AGI) and the Ghana Union of Traders Association (GUTA) have announced a 60-day window for businesses to adjust prices in response to the Ghana cedi’s recent appreciation against the US dollar.
The decision follows a high-level meeting on Wednesday, May 14, 2025, with the Minister of Trade and Industry, Elizabeth Ofosu-Adjare.
The meeting was convened amid growing calls from the public for market prices to reflect the cedi’s performance, which now sees it trading at approximately GH₵12.40 to the US dollar.
Although prices of goods remain relatively unchanged, GUTA and AGI explained that there is a natural lag between changes in the exchange rate and price adjustments on the market due to older stock acquired at previously higher rates.
Speaking during the meeting, the President of AGI, Dr Humphrey Ayim Darke expects the appreciation of the cedi to begin reflecting in the wholesale and retail prices within the next 60 days.
“We sincerely believe that within the next 60 days, this impact will be reflected in the final prices of our wholesale and retail products. We also strongly believe that in the mid-year budget review, we will see further reflection and commitment from the government regarding these gains,” he said in a video report shared by Channel One TV on X.
For his part, the President of GUTA, Dr Joseph Obeng, also appealed to government to maintain the cedi’s current stability assuring that traders would adjust prices as new stock arrives.
SP/VPO
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