{"id":51594,"date":"2014-09-28T05:02:49","date_gmt":"2014-09-28T05:02:49","guid":{"rendered":"http:\/\/4cd.e16.myftpupload.com\/?p=51594"},"modified":"2014-09-27T19:05:37","modified_gmt":"2014-09-27T19:05:37","slug":"we-cant-reduce-prices-of-goods-now-traders","status":"publish","type":"post","link":"https:\/\/citifmonline.com\/2014\/09\/we-cant-reduce-prices-of-goods-now-traders\/","title":{"rendered":"We can’t reduce prices of goods now \u2013 traders"},"content":{"rendered":"
The Ghana Union of Traders Association (GUTA) has disclosed that its members will have to recover the losses they incurred during the depreciation of the cedi before they can reduce prices of their goods.<\/p>\n
According to the Association some of its members lost huge sums of money during the Cedi depreciated massively against the major trading currencies, while others had their businesses fold up.<\/p>\n
Since most of the traders import majority of their wares, the situation had massive impact on the prices of goods and services, while inflation also hit record highs of about 15.9%.<\/p>\n
[contextly_sidebar id=”u67FcdZhuP1LscG6T6bGE0fxA88VFBW7″]Until recently, the Cedi had depreciated about 30% against the US dollar<\/span><\/a><\/strong><\/span>.<\/p>\n