The Minister for Trade, Agribusiness and Industry, Elizabeth Ofosu-Adjare, says recent stability and improvements in the exchange rate have contributed to a reduction in the prices of some goods on the local market.

Speaking during her turn at the Government Accountability Series, the Minister explained that the strengthening of the cedi has eased import costs for businesses, with the benefits gradually reflecting in retail prices.

According to her, many items on the market are directly or indirectly influenced by foreign exchange movements, making the exchange rate a key driver of price trends. She noted that as the pressure on the cedi eases, traders and manufacturers are better positioned to adjust prices downward.

“Where the exchange rate is stabilising, we expect prices of goods to respond positively, and that is what we are beginning to see in some sectors of the market,” Mrs Ofosu-Adjare said.

She added that the government continues to engage industry players to ensure that the gains from exchange rate stability are passed on to consumers, rather than absorbed solely as profit margins.

The Trade Minister reaffirmed the government’s commitment to macroeconomic stability and market monitoring, stressing that sustained currency stability remains essential to keeping prices affordable and supporting economic recovery.