GFL boss urges swift reduction in commodity prices amid Cedi gains

Abraham Koomson, the Secretary General of the Ghana Federation of Labour (GFL), has raised concerns about high prices. This is happening despite the recent appreciation of the Ghanaian Cedi against the US Dollar.

Mr. Koomson noted that a stronger Cedi has positively affected fuel prices. However, he is disappointed that everyday goods and services have not followed suit. He stated, “The enhanced strength of the Cedi is encouraging, and its impact on fuel prices is quite significant.”

He added that essential commodity prices are slow to adjust. Meanwhile, workers’ incomes remain stagnant, reducing their purchasing power. This sluggish market response undermines potential economic relief for ordinary Ghanaians.

Koomson urged the government to implement stricter price regulations. He believes this aligns with their goal of reducing living costs. “Stringent measures must be considered to ensure immediate compliance with price regulations,” he said.

He warned that without swift action, the working class may be left behind in the NDC government’s Reset Agenda. This agenda aims to rebuild the economy and improve living conditions for all citizens.

“If nothing is done to reduce essential commodity prices as the Cedi appreciates, the working class will lose out,” Mr. Koomson cautioned during an interview on Ahotor FM’s Yepe Ahunu show on Saturday, May 31.