A prominent consumer rights activist has sharply criticized the recently announced 60-day timeline for price reductions negotiated between trade associations and Ghana’s Ministry of Trade.
Lawyer Appiah Kusi Adomako, West Africa Director of CUTS International, argues the extended grace period fails to protect consumers benefiting from the cedi’s appreciation and falling fuel costs.
While acknowledging the government cannot mandate price controls in a free market economy, Adomako contends the two-month window allows excessive delay in passing economic gains to consumers. “Some businesses may wait until the 59th day to comply,” he told JoyNews, advocating instead for weekly price monitoring and stronger moral suasion through trade groups.
The critique highlights growing public frustration over sluggish price adjustments despite improving macroeconomic indicators. While the Ghana Union of Traders and Association of Ghana Industries maintain the timeline allows for inventory cycles and supply chain adjustments, economists warn the extended period could dilute the positive impact of currency stabilization on household budgets.
This debate underscores the tension between market realities and consumer expectations in Ghana’s inflationary environment. As the cedi continues its recovery, pressure mounts for faster transmission of macroeconomic gains to retail prices, testing the balance between voluntary compliance and the need for timely consumer relief. The effectiveness of the current agreement may depend on transparent monitoring and whether trade associations can encourage swifter action among their members.
