The Ghana Union of Traders’ Associations (GUTA) is calling on traders to reduce prices of goods and services in light of the recent appreciation of the Ghanaian cedi against the US dollar and other major currencies.
In a statement signed by GUTA President, Dr. Joseph Obeng, the association welcomed the cedi’s improved performance and emphasized the need for this economic gain to translate into relief for consumers through fair pricing.
“GUTA wishes to appeal to the trading community to adjust prices to reflect the significant gains made by the cedi’s appreciation and provide some relief to the consuming public,” the statement said.
The local currency has recently rebounded, reversing earlier depreciation trends. Analysts attribute this strength to increased foreign exchange inflows, reduced demand pressure, and renewed investor confidence spurred by recent policy measures and improved fiscal discipline.
GUTA believes the improved exchange rate presents an opportunity for traders to ease the financial burden on consumers, who continue to grapple with a high cost of living.
Dr. Obeng stressed that aligning prices with the current economic conditions would not only ensure fairness but also build trust and goodwill between traders and their customers.
The association is urging all sectors within the trading community to adjust their pricing strategies accordingly and contribute to national efforts aimed at economic recovery.
