The Ghana Union of Traders’ Associations (GUTA) has called on traders to reduce the prices of goods and services following the recent appreciation of the Ghanaian cedi against the US dollar and other major currencies.
In a statement signed by GUTA President Dr. Joseph Obeng, the association described the cedi’s resurgence as a timely and welcome development. GUTA urged traders to pass on the benefits to consumers through fair pricing, highlighting that the improved exchange rate offers a chance to alleviate the high cost of living.
“The Ghana Union of Traders’ Associations (GUTA) wishes to appeal to the trading community to adjust prices of goods and services to share the significant gains made by the appreciation of the cedi against the major trading currencies and bring some relief to the consuming public,” Dr. Obeng said.
The cedi’s upward trajectory over recent weeks follows improved foreign exchange inflows, reduced demand pressures, and a boost in investor confidence, driven by recent policy measures and fiscal discipline. Analysts say this trend marks a reversal of earlier depreciation and signals a more stable economic outlook.
GUTA believes that traders have a responsibility to reflect this positive change in their pricing. “Aligning prices with current exchange rate dynamics would not only promote fairness in the marketplace but also foster goodwill and trust between traders and their customers,” Dr. Obeng noted.
The association has called on all sectors of the trading community to demonstrate good faith by reviewing and adjusting their pricing structures to support the broader national economic recovery.