Cedi appreciation: Reduce prices to benefit consumers – GUTA to traders

The Ghana Union of Traders’ Associations (GUTA) has made an important call. They urge traders to review and adjust prices of goods and services. This request comes after the Ghanaian cedi appreciated against the US dollar and other currencies.

In a statement signed by GUTA President Dr. Joseph Obeng, the association welcomed this development. They encouraged traders to reflect this improvement in their pricing. The goal is to provide fair and reasonable prices for consumers.

GUTA stated, “We appeal to the trading community to adjust prices.” They want traders to share the benefits of the cedi's appreciation with consumers. Many people are still struggling with high living costs.

Recently, the cedi has shown resilience, reversing its earlier depreciation trend. Experts attribute this appreciation to improved foreign exchange inflows and reduced demand pressures. Enhanced investor confidence from recent policies also plays a role.

GUTA believes this trend offers a chance for traders to help consumers. Dr. Obeng emphasized that aligning prices with current exchange rates promotes fairness in the market. It also builds goodwill between traders and customers.

The association urges all sectors of the trading community to act in good faith. They should recalibrate pricing structures based on the favorable exchange rate environment. This action will support broader national economic recovery efforts.