Reduce prices now – Akufo-Addo appeals to traders

President Akufo-Addo has asked manufacturers, traders, and transport operators in Ghana to reduce their prices as the Cedi stabilizes.

There is some jubilation on the streets as the Ghana Cedi surges against the dollar.

Interbank exchange rates announced by the central bank on Friday, October 16, 2022, saw the Ghana cedi continuing its steady appreciation on the forex market, selling at less than GH¢10 to the dollar.

President Akufo-Addo says following the recent surge of the cedi against the dollar, this must reflect in the prices of goods and services.

“I add my voice to those of GUTA, GRTCC and others, to appeal to manufacturers, traders and transport operators, that with the height of the cedi’s recent depreciation and increased prices of goods and services, to reduce their prices of goods and services now that the cedi is regaining much of its strength. I believe this is not only a fair request but also a just one.”

Meanwhile, Akufo-Addo has said the appreciation of the cedi against all major trading currencies is a result of deliberate policy interventions introduced by Government over the last few months.

According to President Akufo-Addo, “the strengthening of the cedi has not happened by chance, but through the implementation of deliberate policies by Government, in collaboration with the Bank of Ghana.”