The Ghana Union of Traders (GUTA) has asked Ghanaians to prepare for an increase in goods and services.
This was disclosed by Director of Public Relations Joseph Paddy.
Speaking in an interview on Frontline on Rainbow Radio 87.5FM, he said the increment in transport fares will affect the pricing of goods and services.
The increase in goods and services prices is not solely due to an increase in transport fares, but also other factors, he said.
He told host Kwabena Agyapong that the cost of production, the depreciation of the Ghanaian cedis against the dollar, and the recent energy crisis are all reasons why their members would increase the prices of goods and services.
He lamented that one of the major challenges affecting them is the depreciation of the cedis and the cost of doing business.
He was asked if they had taken note of the increase in transport fares and whether it would affect the prices of goods and services.
In his response, he said, “The increase in transport fares will certainly affect the prices of goods and services. The ripple effects of an increase in transport fares and other factors have several ripple effects. It will affect every Ghanaian worker, and obviously, it will also affect the prices of goods.
The dollar was around Ghc13 but has increased to Ghc14. So you can imagine that this will certainly affect rouces.”
He recounted how he received an invoice for something he bought at Ghc60,000, but the shop owner called and changed the price to Ghc67,000 due to some of these factors.
He underscored the need for us to have a favourable environment for businesses to help them expand.
An unfavourable environment, he lamented, could affect investments since people with an interest in investing in the country will not come.
He stressed the need for the government to address the energy crisis and other challenges to encourage investors to invest in the country.
By: Rainbowradioonline.com/Ghana
