Consumers in Kumasi are bracing themselves to pay more for the same quantity of goods they purchase at the various markets as traders set to increase prices of commodities to reflect recent transportation fare hikes.
According to the some of the traders at the Kumasi Central Market who spoke to OTECNEWS’ Lydia Bemah Okyere, the development has led to an increase in the cost of production and transportation of goods, which producers have no option than to pass on to consumers.
The Ghana Private Road Transport Union (GPRTU) on Monday, June 4, 2018 implemented the 10 percent increase in transport fares.
“Though the prices at the wholesale have not been increased, the charges for transporting the goods to our place here have been increased which have compelled us also to increase our prices,” one trader said.
“Now we the sellers will suffer for some time because anytime there is an increase in fuel prices, transport fares go up which affects automatically affects the prices of goods, therefore always recording low sale. It will take time before they will adjust to the new prices,” one also lamented.
Some of the traders, who spoke to OTECNEWS, said high transport charges were largely responsible for the price hike.
They therefore called on the managers of the economy to focus more effort on tackling fuel price increases.
They added that it should not be a lost on anybody the ripple effect of fuel price increase on the price of goods and services.