GUTA Urges Traders to Reduce Prices as Cedi Strengthens — Calls It a Moral Duty to Ghanaians

/ With the Ghanaian cedi appreciating against major foreign currencies, the Ghana Union of Traders' Associations (GUTA) demands fair price reductions to ease burdens on consumers.

👉 Cedi Appreciation: The local currency has recorded significant gains against key international trading currencies.

👉 Call for Immediate Price Cuts: GUTA insists traders should adjust prices promptly to reflect improved forex conditions.

👉 Consumer Relief Priority: GUTA frames the issue as not only economic but also moral, urging fairness for the general public.

GUTA calls on traders to lower prices in response to the cedi’s gains, calling it a moral
duty to citizens.

The Ghana Union of Traders' Associations (GUTA) is calling on the country's merchants to lower prices of goods and services in response to the recent appreciation of the Ghanaian cedi. In a brief but strongly-worded statement signed by GUTA President Dr. Joseph Obeng, the association emphasized that the price drop is not merely an economic adjustment—but a matter of moral fairness to Ghanaian consumers.

"We would like to urge the trading community to modify the prices of goods and services," the statement reads.

According to GUTA, the cedi has appreciated significantly against major foreign currencies such as the US dollar, euro, and pound sterling. This improvement, they argue, must translate into real economic relief for consumers, especially after months of rising inflation and pricing instability.

GUTA’s message is clear: if prices were increased when the cedi depreciated, it is only fair they should decrease now that the currency is rebounding. The association emphasized the need for quick action from retailers and wholesalers to match the currency's recovery with reduced pricing on imported goods.

"The consuming public deserves some relief,” GUTA stated, calling on all traders to reflect the positive change in forex rates by reducing the cost of goods.

Dr. Obeng highlighted that this isn’t just about supply and demand economics—it’s also about doing right by Ghanaians, especially in challenging times when household budgets are stretched thin.

The union also hinted that a failure by traders to act could erode public trust and attract regulatory scrutiny in the near future. GUTA wants its members to lead by example, demonstrating ethical business practices and social responsibility.

If traders respond positively, experts say it could boost consumer confidence and drive demand, stimulating economic activity and helping sustain the cedi’s gains. A price drop could also ease inflationary pressures and bring stability to Ghana’s cost of living—a key concern ahead of national policy reviews.

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