Retailers prepare to hike prices by at least 5% after Christmas as pound plunges below ‘Project Fear’ forecasts



Retailers are poised to impose a wave of price rises that could add 5 per cent to shopping bills in the new year after the pound plunged by more than the worst forecast of so-called ‘Project Fear’.
The hikes, expected to hit soon after Christmas, will cost consumers an estimated £15billion next year.
A slew of executives from supermarkets, fashion retailers and suppliers have issued warnings. Most declined to be named – saying the issue has become too political – but all predicted price rises of at least 5 per cent.
David Sables, a consultant at Sentinel who advises retail suppliers in... read more

 
15 October 2016 in Business, Views: 37
Source: Daily Mail
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