Financial Analyst Nii Yarboi Annan has expressed concerns with the emergence of what he says is a negative pricing culture.
Ghanaians have been complaining of rising prices of goods and services on a daily basis with its attendant hardships and difficulties.
The rising prices have been blamed on the worsening economic fundamentals of the country.
Speaking to Sena Nombo on the Gold Morning Conversation on Radio Gold, Financial Analyst Nii Yarboi Annan explained that the changing prices were the response of businesses to the unpredictable economic environment in the country.
He said businesses were no longer setting prices with the cost they incurred in procuring or producing the goods but with the assumption that those costs would go up the next time they attempt to procure those goods.
Nii Yarboi Annan said businesses are doing everything they can to protect their capitals that have suffered significant erosions over the past few months.
He feared the phenomenon would lead to high prices that would negatively impact the economy for years to come as these prices would in most cases not be reduced.
The Financial Analyst said the government needed to find immediate solutions to the problems of the economy.
Source: Radiogoldlive.com
