The Ghana Union of Traders Associations (GUTA), says prices of goods of its members have been reduced between 10% and 15%.
This follows the 50% reduction in benchmark values on imported goods and 30% on calculated value of vehicles.
According to GUTA, the reductions could have been more, but for other factors such as balancing the prices of the new goods as against old stock and the exchange rate fluctuations.
In an interview with GBC’s Radio Ghana, the President of GUTA, Dr. Joseph Obeng assured consumers of further reductions.
Dr. Obeng encouraged importers to bring in goods that were previously attracting high values.
He said the reduction also affected importation of raw materials for manufacturing locally.