The Food and Beverage Association of Ghana (FABAG) has announced a welcome relief for consumers, revealing that prices of essential goods are beginning to decline across the country.
According to John Awuni, Executive Secretary of FABAG, staple items such as sugar and rice have already seen notable reductions. Sugar prices have dropped by approximately 7%, while rice prices have decreased by about 10%.
“We are aggressively pushing prices down as importers, but unfortunately, others in the value chain are not responding as quickly,” Awuni stated during a stakeholder engagement with the Minister for Finance, Dr. Cassiel Ato Forson.He emphasized the need for collective national action to sustain and broaden these price reductions.
“We believe this must be a national effort. We are calling for a coordinated campaign for price reductions. If others also respond, it will positively reflect in the lives of ordinary Ghanaians,” he urged.
In response, Dr. Forson commended FABAG for its proactive measures and encouraged other trade bodies, including the Ghana Union of Traders’ Associations (GUTA), to support the initiative.
“We are seeing improvements in the cedi, and inflation is slowing. It’s time for businesses to reflect these gains in their pricing. I appeal to GUTA and other stakeholders to join this effort so Ghanaians can truly feel the recovery,” Dr. Forson said, highlighting the importance of aligning prices with recent macroeconomic progress.
This development signals a positive shift in Ghana’s economic outlook, with the potential to ease the financial burden on consumers nationwide.
Source Ghananewsonline
