MONROVIA – Gbarpolu County Senator Amara Konneh has called on the Liberian government to confront what he describes as a “troubling disconnect” between the country’s improving economic indicators and persistently high consumer prices in local markets.
In a statement on Monday, September 15, 2025, Senator Konneh said that while inflation has dropped and the Liberian dollar has gained strength against the U.S. dollar, the relief has not yet been felt by ordinary Liberians who continue to pay high prices for basic goods.
“Okay, it is a new week, and something unusual is happening in the Liberian economy. Yesterday, I visited a few weekend markets to gain insight into the persistence of high consumer prices, even with recent enhancements in both inflation and exchange rate metrics. My findings underscore a complicated set of structural and behavioral elements that are hindering the government’s efforts to achieve significant price relief for Liberians,” Konneh said.
According to figures provided by the Central Bank of Liberia (CBL), inflation dropped from 13.1 percent in February 2025 to 7.4 percent in July, while the Liberian dollar has stabilized against the U.S. dollar. Konneh praised the efforts of Governor Henry Saamoi and the CBL for making what he called “tremendous progress” in stabilizing the economy.
However, he stressed that the improvements have not translated into reduced costs for households. “These encouraging developments have not yet led to substantial drops in prices at the market level. This raises several key considerations that require further examination,” Konneh noted.
The Senator cited vendor reluctance to reduce prices, describing it as “price stickiness,” along with high borrowing costs due to a 17.25 percent monetary policy rate, as among the reasons behind the slow adjustment. He also pointed to delays caused by old inventory bought at higher costs, continued reliance on imports, and Liberia’s vast informal economy that accounts for more than 80 percent of activity, making regulation difficult.
Konneh added that despite President Joseph Boakai’s announcement that rice prices would fall to US$14 per bag, importers were still working through older, higher-priced stock, which is slowing down the expected price relief.
He has since urged collaboration between key Senate committees and government ministries to tackle the issue with urgency. “To tackle these inquiries, I have requested that my Senate colleagues particularly the Committees on Banking and Currency, Ways and Means, and Commerce engage with the Central Bank of Liberia, the Ministry of Commerce, and the Ministry of Finance and Development Planning for an in-depth discussion on this topic,” he explained.
Although the Senate is currently on recess, Konneh emphasized that the matter requires immediate attention. “This conversation is vital for supporting President Boakai’s price reduction initiative and ensuring it is grounded in sound economic principles that produce tangible benefits for consumers and businesses,” he said.
The Senator concluded by calling for coordinated reforms to bridge the gap between economic stability and the reality facing ordinary citizens. “Through coordinated efforts and structural reforms, we can realize the full potential of our macroeconomic improvements and restore confidence in Liberia’s marketplace,” he stated.
