Group calls on GSS to publish import prices to boost consumer Transparency
CUTS International calls on GSS to publish standard import prices & selected goods at the ports
The Consumer Unity and Trust Society (CUTS) International is calling on the Ghana Statistical Service (GSS) to begin publishing standard import prices and corresponding profit margins for selected goods at the ports.
According to a report by citinewsroom.com, the organisation believes this step is essential to promoting transparency and helping consumers avoid overpriced goods.
Appiah Kusi Adomako, CUTS International’s West Africa Director, emphasised the need for greater transparency, arguing that publishing import prices and acceptable profit margins would help prevent excessive markups.
He cited the example of smartphones, suggesting that if consumers knew the average cost of an iPhone 14 Pro Max, they could better assess whether market prices are fair.
“If the Statistical Service states that the import price of an iPhone 14 Pro Max, after adding duty and a fair profit margin, should average GH¢8,000, but consumers are being charged GH¢14,000, people will begin to ask questions. Making this information public would reduce the information gap between sellers and buyers and help bring prices closer to reasonable levels,” he said.
Their call comes in the wake of a significant appreciation of the Ghanaian cedi against the US dollar, rising from around GH¢15.00 to GH¢10.20 between January and late May 2025, a gain of about 32 percent.
This strengthening has been attributed to improved export earnings and rising remittance inflows, which have boosted Ghana’s foreign currency reserves.
Despite this progress, CUTS points out that the stronger currency has not yet led to widespread price reductions in the market.
The group argues that more transparency around import prices would help consumers determine whether current price levels are justified.
By narrowing the information gap between traders and buyers, CUTS believes that public access to this data could help drive down inflated retail prices and promote fairness in the marketplace.
DR/MA
