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Ghana News

GUTA urges members to adjust prices following fall in inflation

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The Ghana Union of Traders Associations (GUTA) has directed all members to adjust prices in line with the latest inflation figures released by the Ghana Statistical Service (GSS). In March, inflation fell to 45 percent from 52.8 percent in the previous month.

According to GUTA, the price adjustment is to reflect the positive changing trends in the country’s economic landscape. The directive was contained in a statement signed by GUTA President, Dr. Joseph Obeng.

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“We are very appreciative of the government’s efforts, and hope that it will bring relief to businesses and lead to the economic transformation we all cherish and desire as a nation,” the statement read.

The union also commended the government and the Bank of Ghana for their efforts towards reducing the cost of doing business in the country.

GUTA is a prominent association representing traders and businesses across Ghana. The union has been advocating for better policies and support from the government to promote the growth and development of local businesses.

Meanwhile, the Ghana Statistical Service has attributed the drop in inflation to the stabilization of the exchange rate and the reduction in fuel prices. The service also noted that food and non-alcoholic beverages were the main drivers of inflation in March.

The fall in inflation is seen as a positive development for businesses and consumers in Ghana, as it could lead to a reduction in the cost of goods and services.

Below is the full statement

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