The President of the Ghana Union of Traders’ Associations (GUTA) has called on traders across the country to transfer recent gains in the strength of the cedi to consumers, insisting that the benefits of currency appreciation must be reflected in market prices.
Speaking on the state of the economy, the GUTA boss noted that the recent stability and improvement of the cedi against major foreign currencies have reduced import costs, creating room for price adjustments. He stressed that traders who continue to sell goods at previously inflated prices risk eroding public confidence and worsening consumer hardship.
According to him, traders play a critical role in easing the cost-of-living pressures faced by Ghanaians and must act responsibly by reviewing prices downward where conditions allow. “When the cedi gains, the ordinary consumer must feel it. That is the only fair thing to do,” he said.
The GUTA President further explained that while some traders may still be selling old stock purchased at higher exchange rates, sustained cedi stability should gradually lead to price reductions as new consignments are imported at lower costs.
He urged market leaders and shop owners to adopt transparent pricing practices and avoid profiteering, adding that cooperation between traders and consumers is essential for economic recovery.
The call has resonated with many consumers, who have long complained that price increases are often swift, while reductions are slow to materialise, even when economic indicators improve.
