The Ministry of Commerce and Industry has ordered the closure of more than 30 shops and business outlets across Monrovia and nearby areas, citing what the government describes as unjustified increases in the prices of basic goods.
Commerce Minister Magdalene E. Dagoseh disclosed that she conducted spot checks at several businesses and discovered noticeable price hikes on essential commodities, especially rice. According to her, the price of rice had risen from US$14 to US$14.50 without any valid justification.
Minister Dagoseh stressed that such arbitrary increases threaten price stability and further deepen the economic burden on ordinary Liberians who are already struggling with the high cost of living.
She made the remarks on Monday during the Monetary Policy Communiqué Meeting held at the Central Bank of Liberia (CBL), where she admitted that the Ministry faces operational challenges but assured the public that regular market inspections are being carried out.
The Commerce Minister warned that businesses found engaging in arbitrary pricing practices or failing to display price tags will face penalties, including fines and possible closure.
She concluded by reaffirming the government’s resolve to protect consumers and ensure that essential goods remain affordable and accessible to all Liberians.
