The traders said though some of the prices of clothes and shoes have been maintained and in some cases decreased to attract more buyers, there has still not been any improvement in the sales.

These were revealed by the traders in the New Juaben South Municipality in a survey conducted by the Ghana News Agency (GNA) in the municipality.Mr Kelvin Ayensu, Manager of Erico Palace, which deals in shoes for men as well as cloths for women and men, said people now tend to invest their money in profitable ventures rather than making petty expenditure.

He said in order to attract customers his company has maintained prices and increased advertisements on the radio but all to no avail.Madam Abigail Ayeram, a trader of cosmetics, purses and cloths, blamed the poor sales to the increment in fuel prices and explained that any increment of fuel price triggers an increment of prices of goods.

Other traders who spoke to Ghana News Agency blamed the unstable cedi against other currencies.They said one CFA which was exchanged for GHC 8.20 last two weeks is now being exchanged for GHC 8.80 which has resulted in an increase in the prices of many Christmas goods imported from neighbouring countries.