The Ghanaian cedi is showing signs of strength as the exchange rate improves significantly, moving from GHS15.00 to GHS11.90 against the US dollar in recent days.
The rate at which the cedi is gaining strength against other currencies shows that prices of commodities will reduce further.
Here are 15 key items whose prices are likely to drop next week ( from 26th May, 2025 to June, 2025)
1. Fuel (Petrol and Diesel) – As Ghana imports refined petroleum products, a stronger cedi reduces import costs, which could result in lower fuel prices.
2. Cement – The cost of cement may fall due to cheaper raw material imports and reduced transportation costs.
3. Building Materials – Products like iron rods, tiles, and roofing sheets are mostly imported, and their prices are expected to decline.
4. Imported Rice – A staple in many homes, rice prices could see a drop as import costs reduce.
5. Cooking Oil – Whether imported or locally produced using imported ingredients, the cost of cooking oil is likely to go down.
6. Imported Chicken and Meat – Prices of frozen chicken and other imported meats may fall.
7. Electronics (TVs, Fridges, Mobile Phones) – These dollar-priced items are expected to become more affordable.
8. Clothing and Footwear – Imported fashion items could see price reductions in the market.
9. Pharmaceuticals – The cost of imported medicines may drop, making healthcare more affordable.
10. Cars and Motorbikes – Prices of imported vehicles are likely to decline.
11. Transport Fares – If fuel prices fall, transport operators may be forced to adjust fares downwards.
12. Vehicle Spare Parts – With import costs reduced, spare part dealers may lower prices.
13. School Fees (International Schools) – Schools that charge fees in dollars may reduce rates or hold off increases.
14. Plane Tickets – International flight prices may drop as airlines adjust for the stronger cedi.
15. Laptops and Tablets – Students and professionals may soon enjoy reduced prices on tech gadgets.