The Ghana Union of Traders’ Associations (GUTA) yesterday called on traders to reduce market prices following the appreciation of the Ghanaian cedi to the dollar, which is currently trading at around GH₵13.33.
However, traders are pushing back against the call, arguing that the 2-cedi appreciation is not significant enough to warrant price reductions.
According to the traders, the slight strengthening of the cedi does not justify reducing prices, and they are unwilling to make adjustments at this time. GUTA, on the other hand, believes that the appreciation of the cedi presents an opportunity for traders to share the gains with consumers, many of whom are still grappling with rising living costs.
The traders’ response highlights a divide between the trading community and GUTA over the impact of the cedi’s appreciation on prices. While GUTA sees the appreciation as a chance to provide relief to consumers, traders are more cautious, arguing that the gains are not substantial enough to justify price reductions.
In an interview with the media, traders disclosed that, transport fare should also be reduced because there has been several reduction on fuel prices.
As the standoff continues, it remains to be seen whether traders will eventually heed GUTA’s call or maintain their current pricing strategies.
Source:Mybrytfmonline.com
