Prices of goods to increase as traders complain of high port charges, cedi fall

Traders are struggling to restock and repay bank loans due to the cedi’s free fall. This is due to high port charges.

Consumers are, therefore, to brace themselves for potential price increase in goods and other foodstuff as the increasing cost of production and liquidity constraints put pressure on traders and hamper their ability to compete.

The traders also say customs duties pegged in dollars are severely impacting trade and commerce as inflationary pressures have led to a surge in the prices of goods and services.

GUTA expressed its readiness to collaborate with the government and other stakeholders on the issue.