Rise in transport fares: Prices of goods & services to go up

By PrimeBusiness
Prices of goods & services to go up

Consumers should brace themselves to pay more for the same quantity of goods they purchase at the various markets.

This is the warning from an Economist at the University of Ghana, Mr Adu Owusu Sarkodie.

According to him, the development will lead to an increase in the cost of production which producers may have no option than to pass onto consumers, all things being equal.

The Ghana Private Road Transport Union (GPRTU) is from today, implementing the 10 percent increase in transport fares.

The increase in fares will cover intra-city transport, otherwise known as trotro, inter-city transport or long distance as well as shared taxis.

Reacting to this, Mr Adu Sarkodie also said he expects nothing to change regarding increased prices unless government intervenes.

Fares at the time went up by 15 percent.

There were earlier reports of increases in transport fares in 2018, which were followed by protests by some commercial drivers against what they described as the persistent hikes in the prices of petroleum products.

Latest Ghana Business News