Cedi gains, fuel drops won’t decrease prices – Economist

Economist Samuel Worlanyo Mensah says the caller appreciation of the Ghana Cedi and simplification successful substance prices whitethorn not pb to a corresponding driblet successful the prices of goods owed to the country’s manual attack to economical management.

Dr. Mensah stated that until Ghana adopts an automated economical investigation and decision-making system, specified changes successful macroeconomic indicators would not automatically bespeak successful the regular lives of mean Ghanaians.

He told the Ghana News Agency (GNA) successful an interrogation that the operation of Ghana’s system does not enactment seamless terms adjustments successful effect to affirmative economical indicators.

“While the strengthening of the Cedi and the falling substance prices are commendable developments, that unsocial cannot warrant a simplification successful the outgo of living,” said Dr. Mensah, who is besides a cleric.

He added: “We person not re-profiled the system for automation, and determination are manual dimensions progressive successful terms reductions, particularly successful transport fares.”

Dr. Mensah explained that due to the fact that the Ghana Private Road Transport Union (GPRTU) determines transport fares manually done consultations and calculations—rather than done automated pricing models—this process delays the expected fare reductions, adjacent erstwhile substance prices decrease.

He urged Ghanaians not to expect contiguous reductions successful the prices of goods and services, but alternatively to expect a play of stability. “Our expectations should beryllium stableness alternatively of reduction, due to the fact that stableness besides leads to betterment successful our modular of living,” helium noted.

Meanwhile, immoderate commuters successful Nungua and Tema person expressed vexation that the simplification successful pump prices has yet to construe into little transport fares.

“I walk astir GHC26 connected transport daily, and this has not changed adjacent though we perceive substance prices are decreasing. I americium amazed we’re each quiescent astir it, but thing indispensable beryllium done,” said Asare Nyako, a civilian servant.