A market in Tamale

A market in Tamale

Prices of goods in Tamale, the Northern Regional capital, have witnessed an increase in the last couple of days following increment in the prices of petroleum products by the National Petroleum Authority (NPA).

Though various transport unions have been barred from increasing lorry fares since the recent increment was insignificant as compared to previous ones that necessitated adjustment in transport fares, many market women are unhappy with the situation.

However, traders in Tamale have increased their prices by between 10 percent and 15 percent.

Many of them claim they would incur huge losses if they fail to increase prices of goods.

A visit to the Tamale Central Market revealed that prices of most goods had recorded a marginal increment following fuel price adjustment.

Others claimed they increased the prices of their wares in view of the depreciating value of the cedi against the dollar and other major currencies.

According to them, most goods were being quoted in dollars.

Some people, who spoke to CITY & BUSINESS GUIDE, expressed disappointment with the poor patronage of their wares in recent times, claiming the harsh economic conditions could be a major factor.

Some have argued that they may not be able to recoup their investments if there is no improvement in the situation.

Shop owners and retailers, in an interview with CITY & BUSINESS GUIDE, said they took loans from banks and stocked their shops with various goods in anticipation of a boom in sales.

After the recent announcement by NPA, a gallon of petrol is going for GH?9.50.

According to the NPA, the increase in the prices of fuel was in line with government?s policy.

From Stephen Zoure, Tamale

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