The President of the Ghana Union of Traders’ Associations (GUTA), Clement Boateng, has called on traders to reduce prices in line with the cedi’s recent appreciation, arguing that consumers should benefit from the improved market conditions.

Speaking on Joy News’ PM Express on Monday, Mr. Boateng criticised traders who refuse to adjust prices despite declines in the cost of inputs, describing the practice as deliberate.

“I see the action of not wanting to reduce prices as a deliberate issue… irrespective of the fact that the commodity… that he’s using… has gone down,” he said.

Using bread pricing as an example, he stressed that some traders and producers appear unwilling to let fellow Ghanaians enjoy the benefits of the cedi’s stronger value.

“This is an attitude where, irrespective of the situation we find ourselves in, some will not let their compatriots enjoy the gains that have been made,” he said.

Mr. Boateng noted that the cedi’s appreciation has lasted long enough to produce measurable gains for businesses, and those gains should be shared with consumers.

“It is an undeniable fact that the cedi has appreciated for quite some time, and the business community has made some gains. Those gains should not remain with traders and importers alone; they must be passed on to the consumer,” he added.

When asked if price reductions are happening across the market, he confirmed that they are, but acknowledged that some traders remain resistant.

“It has happened across board. Yes, across board. But as we say, there are bad nuts in every community. Some people have made up their minds that they will not reduce prices,” he said.

The GUTA President warned that traders who refuse to adjust prices risk losing customers in a competitive market where turnover determines survival.

“Your neighbour will sell fast, restock, and thrive, while you sit beside your goods and make no sales,” he cautioned.

He also linked the price reductions to trends in inflation, noting that the easing of prices is reflected in a slowing inflation rate.

“What does inflation mean? Inflation simply means the purchasing value of your money on either goods or services,” he explained.

Mr. Boateng concluded by stressing that traders must not stand in the way of consumers benefiting from the cedi’s improved performance.

“Prices of goods have generally come down, and the gains of the stronger cedi should reach the consumer,” he said.