By Spendilove Incoom
Ghana’s Finance Minister, Dr. Cassiel Ato Forson delivered a hopeful message to Parliament during the 2025 Mid-Year Budget Review, highlighting what he described as a ‘historic turnaround’ in Ghana’s economy just six months into President Mahama’s administration.
“This level of appreciation of the Ghana Cedi has never happened in the history of our nation,” he stated confidently, pointing to the strength of the local currency as a major driver behind recent reductions in the cost of living.
Dr. Forson said the gains are already being felt by everyday Ghanaians from fuel stations to market stalls. Prices of petrol and diesel at the pump have dropped significantly, easing the transport burden on both commercial drivers and private car owners.
More striking, however, are the reported reductions in the prices of everyday essentials. “Prices of sugar, rice, and cooking oil are at a four-year low,” the minister noted, citing data that many households would recognize. A 25kg bag of Royal Aroma rice has dropped from GH¢650 in January to GH¢356. The price of a 25-litre container of cooking oil has fallen from GH¢980 to GH¢640, while the cost of Yazz sanitary pads has seen a 40% drop from GH¢25 to GH¢15.
Other reductions include:
• Olonka of sugar: GH¢50 to GH¢44
• Sack of kokonte: GH¢1,200 to GH¢950
• Tonne of iron rods: GH¢9,400 to GH¢7,500
• Sack of maize: GH¢1,600 to GH¢1,450
• POP cement: GH¢115 to GH¢90
• Paint bucket of onions: GH¢120 to GH¢95
• Palm fruits (olonka): GH¢40 to GH¢25
Dr. Forson described these developments as signs of a deliberate “economic reset”, a fulfillment of President Mahama’s promise to stabilize and re-energize the economy.
“It has been six months of hard work,” he said, “and we have already begun to lessen the burden on Ghanaians.”
While acknowledging there is more work to be done, the Finance Minister assured the public that government will continue to pursue policies that restore economic hope and improve livelihoods across the country.
