FINANCE MINISTER, Dr. Cassiel Ato Baah Forson has called on the Food and Beverage Association of Ghana (FABAG) to reduce food prices, citing recent economic stabilization as a basis for easing the cost of living.
In a meeting with FABAG leadership on May 8, Dr. Forson highlighted the cedi’s appreciation and declining inflation rates as indicators of economic improvement. He stressed that these gains should translate into tangible benefits for consumers.
“Food prices, which had been unreasonably high, must start to fall drastically,” Dr. Forson stated. He acknowledged reports of some FABAG members already lowering prices and urged others to follow suit.
Ghana’s consumer inflation rate decreased to 21.2% in April, down from 22.4% in March, marking the fourth consecutive month of decline, according to the Ghana Statistical Service.
Dr. Forson outlined structural reforms aimed at sustaining economic stability, including reviewing port charges, combating smuggling, and implementing fiscal consolidation measures.
He also endorsed FABAG President John Awuni’s proposal for a national campaign to reduce prices, stating, “We must translate strong macroeconomic gains into real, tangible relief for our people.”
The Finance Minister’s appeal aligns with the government’s broader efforts to stabilize the economy and alleviate financial burdens on Ghanaians.
Source: Nationaltymes.com
