Ghanaian economist, Emmanuel Amoah has revealed that the cost of a number of goods sold in Ghana remain unchanged despite cedi strength due to long shipping time.
“There are certain goods that take time to buy and time to sell. Cars for instance, unlike consumables like tomatoes, will take some time before the change reflects in their pricing.” he stated.
Speaking in an interview on Happy 98.9FM’s Happy Morning, the economist indicated that majority of goods being sold in Ghana are imported and are bought at high prices.
“The turn around time which traders observe is highly important because it is also a factor that contributes to the pricing of goods.”
Mr. Amoah encouraged traders to give prices that correlate to the strength of the cedi over the dollar as other sectors effect changes.
“Once the cedi has been strengthened you should do the right thing by also allowing the changes to reflect in the pricing of your goods
