The Ghana Union of Traders Association (GUTA) has appealed to its members to adjust the prices of their goods and services following an appreciation of the cedis.
GUTA says its observation of the cedis in the last few days reveals the stability of the currency.
The appreciation of the cedis against the dollar has led to an astrological increase in the prices of goods and services.
Speaking on an Accra-based radio station and monitored by Graphic Online on Monday, December 12, 2022, the vice chair of GUTA, Mr. Clement Boating called on traders to reduce the prices of the goods while asking the government to work in ensuring a stronger currency.
“About two months ago we all saw the way and manner the cedis was depreciating … it wasn’t even on daily basis but hourly bases and we all saw why trading community tried to adjust prices to reflect the trend of the depreciation of the cedi and there was a whole of talks about how prices were escalated
We think for some time now the cedis has seen some stability even though expected it to appreciate further, and we think it is incumbent on us as an association to try as much as possible to advise our members to adjust their prices a bit to reflect the current stability of the cedis”