A member of the New Patriotic Party’s (NPP) communications team, Abubakar Suleman popularly known as Lakulaku, has said the lack of market regulation price is one of the leading causes of the high inflation rate in the country.
He said this when he joined Kwaku Dawuro on Movement In The Morning Show on 25th August, 2022.
He said that ‘’there is no one regulating market prices. You can buy one thing from one store or market, and you buy it at a different price in another country. Government must set policies for minimum or maximum pricing of goods and services. There should be guidelines on the regulation of prices to prevent sellers from exploiting customers and buyers’’.
He added that the observed pattern of pricing in the market currently has negative repercussion on inflation. Stating when market price controls are ignored, the system tends to favor sellers who enjoy monopoly of profit on the markets.
He advised Ghanaians to avoid the exuberant pricing as government puts measures in place to curb the current economic hardship.