Trader groups have said Ghanaians can expect the prices of goods to start reducing by the next two months as the cedi continues to strengthen against foreign currencies.
The Ghana Union of Traders Association (GUTA) and the Association of Ghana Industries (AGI) met with the Minister for Trade and Industry, Elizabeth Ofosu-Adjare on May 14 amid calls for immediate price reductions
Although prices of goods remain relatively unchanged, GUTA and AGI explained that there is a natural lag between changes in the exchange rate and price adjustments on the market due to older stock acquired at previous, higher rates.
GUTA President, Dr. Joseph Obeng, appealed to government to maintain the cedi’s current stability, assuring that traders would adjust prices as new stock arrives.
