Cedi Stability: CUTS Int’l urges GSS to publish import price data for transparency

 Cedi Stability: CUTS Int’l urges GSS to publish import price data for transparency

 

 

BY AIDOO HAROLD

BABJ28042

SOURCE: CITI NEWS

Consumer advocacy group CUTS International has called on the Ghana Statistical Service (GSS) to begin tracking and publishing standard import prices and corresponding profit margins for selected goods at the ports.

The group believes that such a move would promote price transparency and help consumers avoid inflated prices.

This appeal follows the recent appreciation of the Ghanaian cedi against the US dollar—an upward trend that, according to CUTS, is yet to result in meaningful price reductions on the market.

From January to late May 2025, the cedi strengthened from around GHS 15.00 to GHS 10.20 per US dollar, marking a 32% gain. Analysts attribute the rebound to improved export performance and increased remittance inflows, which have boosted the country’s foreign reserves. However, the question remains whether this currency appreciation translated into noticeable price relief for consumers.

Kwening Asante Boateng, a veteran importer of second-hand clothing with nearly 30 years of experience, confirmed that prices have seen a decline. He explained that the cedi’s strength has reduced the amount of cash needed to convert into foreign currency for imports.

“Prices of bales of clothes have gone down—some from GHS 1,000 to GHS 700, others from GHS 2,000 to GHS 1,500. This particular bale of children’s clothes, which used to cost GHS 3,000, now sells for GHS 2,500,” he said.

Notwithstanding, he emphasized the need for sustained currency stability for lasting impact.

 

 

 

 

 

 

 

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