The President of the Ghana Union of Traders Association (GUTA), Clement Boateng, has urged consumers not to panic over the rise in inflation to 5 percent in August 2026, describing the increase as marginal.
According to him, the latest increase is not significant enough to trigger any major rise in the prices of goods and services.
He says consumers should therefore remain calm, as the marginal increase is unlikely to have a significant effect on the cost of living.
“I don’t think the increment is significant. It is just some marginal increment and so I don’t think it is going to have any effect as far as goods and services, prices of goods and services are concerned.”
Clement Boateng in an interview with Citi Business News further cautioned consumers against assuming that the latest inflation figure will automatically translate into higher prices.
“I really don’t think the consumer should have any worry at all. There shouldn’t be any panic as to consumers thinking that we are going to increase prices or it is going to affect services.”
The GUTA President also dismissed suggestions that delays in clearing goods at the ports were a major contributor to the August inflation increase.
He, however, acknowledged that congestion at the ports is creating additional costs for traders, particularly when goods remain uncleared beyond the demurrage-free period.
“Once the demurrage-free period has elapsed, whether you like it or not, whether it is your doing for the delay or it is the doing of the shipping lines, you will definitely have to pay whatever demurrage you have incurred.”
He called on the Ghana Ports and Harbours Authority (GPHA) to engage shipping lines to address the congestion at the ports.
