Uncontrolled market pricing driving Ghana’s high cost of living — TUC’s Dr Otoo
Deputy Secretary-General of the Trades Union Congress (TUC), Dr Kwabena Nyarko Otoo, has blamed Ghana’s high cost of living on the country’s uncontrolled market pricing system.
Dr Kwabena Nyarko Otoo, Deputy Secretary-General of the Trades Union Congress (TUC), has criticized Ghana's uncontrolled market pricing system as a major contributor to the country's high cost of living. In an interview on Joy FM's Super Morning Show, Dr Otoo noted that while workers' salaries remain stagnant for extended periods, prices of goods and services are frequently raised, leading to a decline in consumers' purchasing power.
He pointed out that the discrepancy between income increases and price increases is more pronounced in Ghana than in other countries with market economies, such as the United Kingdom, United States, and Canada. Dr Otoo highlighted that these countries have regulatory frameworks in place to prevent unjustified price hikes and protect consumers.
He urged for stricter market regulation to curb arbitrary price increases, protect workers' incomes, and alleviate the financial strain on Ghanaian households.
Written by urgent.news from MyJoyOnline Ghana's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.