The Ghana Union of Traders (GUTA) has lamented that hikes in goods are affecting trading activities since consumers are unable to purchase goods like they used to.
Several of the consumers GUTA stated are blaming traders for taking advantage of the situation.
”But that is not our fault. We are not taking advantage of consumers,” President of GUTA, Dr. Joseph Obeng, said.
Speaking on Frontline on Rainbow Radio 87.5Fm, Dr. Obeng said the purchasing power of consumers has reduced, and the inflation rate has also affected our trading activities.
He disputed assertions that Ghanaian traders were taking advantage of Ghanaian consumers and increasing the prices of goods.
He explained that the competition between Ghanaian traders and foreign traders makes it difficult for any trader to increase the price of goods without reason.
Dr. Obeng stressed traders are also going through serious economic hardship, and Ghanaians must bear with them the current trend in our markets.
He maintained that the cost of production has increased, and the global commodity prices have increased in the face of the Covid-19 pandemic.
Cost of shipping and import he added have all increased, and traders cannot be entirely blamed for the cost of goods.
The Russian-Ukraine war, he stated has also caused some challenges for traders.