James Tamakloe, a communicator for the New Patriotic Party in Tema West, says Ghana lacks an effective price control system, resulting in persistently high prices even when the dollar rate drops.
Speaking on Nkososem, a morning programme on Plan B FM, Mr Tamakloe explained that prices of goods often remain unchanged despite improvements in the exchange rate because there is limited government regulation of pricing.
According to him, many businesses independently determine their prices, making it difficult for consumers to benefit when economic conditions improve.
He stressed the need for stronger systems to ensure that price reductions reflect changes in the broader economy.
By: General Mccoy
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