The Ghana Union of Traders’ Associations (GUTA) is urging traders across the country to reduce the prices of goods and services in response to the recent strengthening 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 appreciation of the cedi as a positive shift that should translate into tangible relief for consumers.
“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,” the statement read.
The cedi has staged a notable recovery in recent weeks, reversing months of depreciation. Analysts attribute the turnaround to stronger foreign exchange inflows, a drop in demand-side pressures, and growing investor confidence spurred by fiscal reforms and prudent monetary management.
For GUTA, this economic progress presents a critical moment for the trading sector to act responsibly. Many consumers, the association noted, continue to bear the brunt of inflation and high living costs, despite recent improvements in macroeconomic indicators.
Dr. Obeng emphasized that price adjustments in line with the current exchange rate would not only ensure fairness but also strengthen trust between traders and the general public.
GUTA is therefore calling on all actors in the trading space to reflect the new currency reality in their pricing, support consumer welfare, and contribute to the nation’s broader economic recovery.
