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 pricing system.
In an interview monitored by MyNewsGh.com, Dr Otoo said the prices of goods and services were often increased while workers’ salaries remained unchanged for long periods.
He said this was reducing the purchasing power of workers and making it harder for them to afford basic needs.
“On one hand, incomes are not moving the way they ought to move, but prices are moving faster than the rate of income increases,” he said.
Dr Otoo also argued that Ghana’s pricing system does not follow normal economic principles and allows some businesses to increase prices without proper justification.
“The way people increase prices in Ghana, it differs from conventional economic wisdom,” he said on Joy FM’s Super Morning Show on Tuesday, August 25, during a discussion on the rising cost of living.
