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Ghana’s trade chief urges traders to cut prices despite cedi strength, warning against unfair pricing that risks customers.
GUTA President Clement Boateng urged Ghanaian traders to lower prices amid the cedi’s sustained appreciation and falling input costs, calling resistance to price cuts unfair and counterproductive.
Speaking on Joy News, he emphasized that businesses have already benefited from the stronger currency and should pass gains to consumers, warning that high prices risk losing customers to more competitive sellers.
While noting widespread price reductions and declining inflation—defined as reduced purchasing power—Boateng criticized some traders for holding firm, stressing that long-term success depends on turnover and market responsiveness.
El jefe de comercio de Ghana insta a los comerciantes a reducir los precios a pesar de la fortaleza del cedi, advirtiendo contra la fijación de precios injustos que pone en riesgo a los clientes.