Economic Issues

Traders Lament Continuous Rise In Prices Amidst Cedi Appreciation

Traders Lament Continuous Rise In Prices Amidst Cedi Appreciation

Dec 20, 2022 10:13 AM

The appreciation of the cedi against the dollar has engendered confidence in Ghanaians that the prices of goods and services will see some reduction as we head into the Christmas season.×300&!2&fsb=1&xpc=qBeSWkrUp6&p=https%3A//

However, this is not the case as most traders and shop owners have refused to cut prices citing purchases of goods when the cedi was performing badly.

Some members of the public at the Takoradi New Market in an interview have appealed to the government and relevant stakeholders to intervene to cut the prices of goods to reflect cedi gain.

Auntie Abena who deals in soft drinks reveals how the prices of goods keep soaring despite the gains of the cedi. She says, the wholesalers are reluctant to reduce their prices and this affect retailers as well.

“Though the cedi has made some gains, prices of goods are still high. Just last week, I bought some drinks at a cost of ¢30.00 cedis, when I went the following week, the prices have increased to ¢34.00.

I believe government can do something about the price regime considering the gains of the local currency”

Another trader said, ” The traders are saying they cannot reduce the prices though the cedi is doing well. According to them, they stocked the goods when the dollar was high, so they cannot do anything about the pricing. The situation is just unbearable.”

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