The Ministry of Trade, Agribusiness and Industry is planning to roll out a national consumer price transparency application as part of efforts to improve market accountability and protect consumers from arbitrary pricing.
The announcement was made by the Minister of Trade, Agribusiness and Industry, Ms Elizabeth Ofosu-Agyare, during the Government Accountability Series press briefing in Accra on January 21, 2026.
Ms Ofosu-Agyare said the application would allow traders to publish their prices on a digital platform, giving consumers the opportunity to compare prices across markets and decide where to shop based on cost.
She described the initiative as an alternative to price controls, which she said often encourage hoarding and worsen shortages. “We will not control prices,” she said.
“But we will make prices available for people to choose from.”
According to the minister, the plan reflects current market dynamics and the increasing use of mobile phones across the country.
She explained that when traders publish prices openly, consumers will naturally gravitate towards cheaper options, creating competitive pressure on others to review their prices.
“If we have the same piece of paper and I am selling mine at a thousand cedis and you are doing yours at 200 cedis, then the buyer will decide whether he or she is a Father Christmas to give me 800 more or is a prudent buyer and will buy from you,” she said.
Ms Ofosu-Agyare said recent market surveys she personally conducted in major trading centres, including Abossey Okai and Kantamanto, showed noticeable reductions in the prices of some basic commodities compared to 2024.
She said engine oil, which sold at GH¢600 in 2024, is now selling at GH¢350, while kokonte has dropped from GH¢1,200 to GH¢900 per bag.
She added that charcoal prices have declined from GH¢140 to GH¢100 per sack, laundry soap from GH¢30 to GH¢23, and yam from GH¢35 to GH¢30. According to her, these movements suggest a gradual easing of the cost of living in some product categories.
Ms Ofosu-Agyare noted that social media posts circulating nationwide, which show price reductions in various markets, point in the same direction.
Addressing concerns about cement prices, the minister said the government is enforcing a Legislative Instrument that requires cement manufacturers to declare their ex-factory prices by the eighth of every month.
She said the ministry had engaged manufacturers to remind them of their legal obligations and warned that price increases would not be permitted without the required declarations.
To support her position, Ms Ofosu-Agyare cited data showing that 42.5 grade cement, which sold at GH¢117 in 2024, is now selling at GH¢107, while 32.5 grade cement has dropped from GH¢105 in 2024 to between GH¢80 and GH¢85.
The minister also disclosed that the government has secured budgetary allocation from the Ministry of Finance for the rollout of the 24-hour economy policy.
She said the policy has an operational secretariat and cuts across several sectors, with the Trade Ministry working with industries on financing and access to raw materials to support operations across three shifts.
